Gabriel Budi Sutrisno · · 2 min readChina’s XVC leads $20m round of Indonesian BNPL firm
Photo credit: Willy Sebastian / 123RF
Amid a funding slump in Southeast Asia’s fintech scene, Finture – the parent firm of Indonesia-based buy now, pay later platform Yup – has secured US$20 million in a new round led by Chinese investment firm XVC.
Founded in 2021, Finture connects customers to licensed financial institutions that provide installment payments. Through Yup, they can access installment plans with 0% interest as well as a credit limit of up to 40 million rupiah (US$2,666).
Tech in Asia has reached out to the company for comments.
Funding details
- Funding amount: US$20,000,000
- Lead investor: XVC
- Other investors: SWC Global, MindWorks Ventures, Antao Capital, Tortola Capital
- Stage: Pre-series B
Finture recently rolled out several financial products in Hong Kong. Among them is a “remote repayment” credit card targeting foreign domestic workers based in the city. The feature lets their relatives make purchases in Indonesia that the cardholders can then repay in Hong Kong.
The company is also developing an e-wallet platform to complement Yup. The firm said that the e-wallet will be usable across Southeast Asia, Hong Kong, and China.
See also: Southeast Asia’s thriving buy now, pay later players (update)
More details
Finture→
|
||
| Stage | Amount (US$) | Investors |
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
