Ann: IOUpay Acquires 42% of I-Destinasi Malaysian Finance Company, page-265

Mate the $50m was never to be used as a warehouse funding facility long-term, that’s not what we’re getting at - the $50m gave them the flexibility and options to turbocharge merchant on-boarding and customer growth in Malaysia and multiple other territories. With $40m of that now gone, they’ll likely cap raise to fund operational growth now too, as they’re unlikely generating enough cash flow to make big pushes.
The question to ask is are we a BNPL player competing with the likes of Atome and Hoolah? Or do we generate 10 year credit loans for Malaysian public servants? Because we just sank $40m on the latter. Trying to be both is a very muddy brand