Asia digest: SG fintech firm Split bags funding; Aramco arm backs NY-based Wahed
As seen in Deal Street Asia published on 10 June 2020, Sarah Yuniarni
Singapore-headquartered fintect firm Split has secured an undisclosed investment from 500 Startups, while New York-based Wahed has bagged $25 million from Saudi Aramco Entrepreneurship Ventures.
Fintech firm Split secures funding
Southeast Asian fintech firm Split on Wednesday announced that it has raised an undisclosed investment in a funding round led by venture capital firm 500 Startups.
Several angel investors also participated in the round, including AccorHotels Asia Pacific deputy CEO Louise Daley, who will join Split's board of directors.
Split, which was established in2018 as part of Entrepreneur First's talent investment programme, enables businesses to offer their customers the choice of paying in up to three instalments online, offline or via social commerce.
The recently secured funding will be allocated to scale its platform, especially its pay-later service in Singapore and Malaysia.
"While traditional financing options rely on charging interest or earning from missed payments Split turned the model around and made it completely free for consumers. We see incredible potential in how their instalment payment service works not just for large retailers but also serves a massive longtail of small & medium businesses selling online, offline, orvia social commerce," 500 Startups managing partner Khailee Ng said.
Wahed bags $25 million from Saudi Aramco's investment arm
New York-based online ethical investment platform Wahed has secured $25 million in funding fro Saudi Aramco Entrepreneurship Ventures, an investment arm of global oil giant Saudi Aramco.
According to press release, existing investors BECO and CueBall Capital and new backers Dubai Cultiv8 and Rasameel also participated in the round.
Wahed, which means number one in Arabic, offers Aharia-compliant investment options. It offers its services in the US, the UK, and Malaysia to Muslim-majority consumers.
The proceeds from the funding will be allocated to accelerate its global expansion and establishing a subsidiary in the Middle East.
Asia digest: SG fintech firm Split bags funding; Aramco arm backs NY-based Wahed
As seen in Deal Street Asia published on 10 June 2020, Sarah Yuniarni
Singapore-headquartered fintect firm Split has secured an undisclosed investment from 500 Startups, while New York-based Wahed has bagged $25 million from Saudi Aramco Entrepreneurship Ventures.
Fintech firm Split secures funding
Southeast Asian fintech firm Split on Wednesday announced that it has raised an undisclosed investment in a funding round led by venture capital firm 500 Startups.
Several angel investors also participated in the round, including AccorHotels Asia Pacific deputy CEO Louise Daley, who will join Split's board of directors.
Split, which was established in2018 as part of Entrepreneur First's talent investment programme, enables businesses to offer their customers the choice of paying in up to three instalments online, offline or via social commerce.
The recently secured funding will be allocated to scale its platform, especially its pay-later service in Singapore and Malaysia.
"While traditional financing options rely on charging interest or earning from missed payments Split turned the model around and made it completely free for consumers. We see incredible potential in how their instalment payment service works not just for large retailers but also serves a massive longtail of small & medium businesses selling online, offline, orvia social commerce," 500 Startups managing partner Khailee Ng said.
Wahed bags $25 million from Saudi Aramco's investment arm
New York-based online ethical investment platform Wahed has secured $25 million in funding fro Saudi Aramco Entrepreneurship Ventures, an investment arm of global oil giant Saudi Aramco.
According to press release, existing investors BECO and CueBall Capital and new backers Dubai Cultiv8 and Rasameel also participated in the round.
Wahed, which means number one in Arabic, offers Aharia-compliant investment options. It offers its services in the US, the UK, and Malaysia to Muslim-majority consumers.
The proceeds from the funding will be allocated to accelerate its global expansion and establishing a subsidiary in the Middle East.
