A monster in the making!!
25 November 2020
ASX and Media Announcement
Fatfish To Launch Buy-Now-Pay-Later (BNPL) for Corporates across
Southeast Asia via its Singapore Central Bank-Licensed Investee
Smartfunding & Increases its Stake in Smartfunding
Highlights:
Smartfunding has been granted by Singapore Central Bank (MAS) a Capital
Market Services License
Smartfunding will launch a Buy-Now-Pay-Later (BNPL) platform for
corporations in Singapore and across Southeast Asia
The BNPL platform will allow SMEs to apply via a digital process, any
procurement of equipments or services for an amount of S$25,000 up to
S$1,000,000, to be repaid in instalments over 12 or 24 months
Southeast Asia is a very significant market with Singapore its leading financial
hub. Southeast Asia has a population of 670 million people
The BNPL business model is in its infancy in Southeast Asia and Smartfunding
has aggressive plans to roll the out the BNPL platform across this market,
beginning with Singapore
Smartfunding is presently 58.8% owned by Fatfish’s Swedish subsidiary Abelco.
In conjunction with this development Fatfish is acquiring directly an additional
19.9% stakes in Smartfunding
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