Pace, a Singapore-based fintech solution company that allows customers to ‘Buy Now Pay Later’ (BNPL), announced that it has raised USD40 million in its Series A investment round. Investors that joined the round include UOB Venture Management (Singapore), Marubeni Ventures (Japan), Atinum Partners (South Korea), AppWorks (China Taiwan), and a series of family offices from Japan and Indonesia. Previous investors, Vertex Ventures Southeast Asia, Alpha JWC, and Genesis Alternative Ventures also participated. This investment from some of the most successful and established investors signals confidence that Pace is a leading BNPL player in Asia. The region is expected to become the world’s fastest-growing BNPL market, and this funding supports Pace in achieving its mission of democratizing financial services for all, by helping us pave our expansion into Japan, Korea, and China Taiwan.
The financial services industry in Asia is shifting dynamically, but Pace has managed to establish primacy in markets by tapping into local consumer curves to establish itself as a dominant player with its clear vision. Through this funding, Pace is to continue empowering more people across Asia with innovative fintech services.