Shadine Taufik · · 1 min readSingapore BNPL player Pace matches 2021 earnings in one quarter
Singapore-based fintech firm Pace Enterprise has matched its 2021 earnings within the first quarter of 2022, said the company’s CEO and founder Turochas Fuad.
Turochas Fuad, CEO of Pace / Photo credit: Pace
The buy now, pay later startup – which celebrates its second year of operations today – has expanded to offer its services to six countries in Asia Pacific. By March, the firm had 5,000 points of sale across the region.
In March, Pace acquired fellow Singapore-based BNPL firm Rely, which extended the former’s reach in its home country and in Malaysia. A month later, it launched its digital Pace Card, which allows users to track and manage installment payments and access the firm’s loyalty program.
The firm said that by the end of the year, it aims to gain 1 million users and US$1 billion in annualized gross merchandise value.
The global BNPL industry is poised to reach a market value of US$39.4 billion by 2030 at a compound annual growth rate of 26%.
See also: BNPL struggles amid global recession – except in Southeast Asia
Editing by Miguel Cordon and Lorenzo Kyle Subido
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