Mapping the buy now, pay later survivors in SEA

IN FOCUS

In today’s newsletter, we look at:

• The survivors of Southeast Asia’s BNPL funding drought
• The challenge Vietnamese fintech unicorn VNLife faces as it seeks an IPO abroad
• Why Y Combinator-backed BNPL company BharatX acquired healthcare financing firm Zenifi

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Hi there,

Looking at Southeast Asia’s remaining buy now, pay later (BNPL) providers today, it is hard to fathom the exuberance of the industry several years ago.

Just a handful of firms remain after several exited the industry in recent months and others pivoted to new offerings.

In this week’s Big Story, my colleague Scott underlines the funding dry spell in Southeast Asia’s BNPL space.

It’s been close to two years since we last updated the landscape map, which outlines key players and trends in this sector. While rising interest rates and inflation have played a significant role in taming consumer spending, the handful of players that remain appear to be going strong.

Continuing the BNPL theme in this week’s Hot Take, I discuss why India-based BharatX’s acquisition of healthcare financing startup Zenifi makes sense. Pushing offerings beyond lifestyle goods and electronics is one way for BNPL firms like BharatX to stay in the race for the long haul.

— Melissa

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THE BIG STORY

Mapping the survivors of Southeast Asia’s BNPL funding drought

At US$136 million, funding into Southeast Asia-based BNPL firms year to date is under a third of 2023’s levels.

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THE HOT TAKE

BNPL ventures into healthcare in search for the next best thing

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NEWS YOU SHOULD KNOW

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FYI

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