Fintech startup Split raises seed funding from 500 Startups
As seen in The Business Times published on 10 June 2020, Sharanya Pillai
SPLIT, a Singapore and Malaysia-based startup offering buy-now-pay-later solutions, has raised an undisclosed round of seed funding led by 500 Startups and joined by other angel investors.
One of these angel investors is Louise Daley, deputy chief executive of AccorHotels Asia Pacific, who will also be joining Split’s board, the startup said in a Wednesday press statement.
Founded in 2018, Split provides a platform that allows businesses to provide consumers with a financing option with no interest, late fees or other charges.
The startup has partnered Malaysian brands Switch and Urban Republic, businesses of CG Computers, to offer instalment payments online and in-store pickup across 70 retail outlets. Other brands Split works with include wine importer Straits Wine Company and regional travel aggregator Easybook.
Khailee Ng, managing partner of 500 Startups said in the press statement: “We see incredible potential in how their instalment payment service works not just for large retailers but also serves a massive longtail of small and medium businesses selling online, offline or via social commerce.”
Split’s co-founder Dylan Tan added: “Covid-19 has brought enormous economic uncertainty; this means consumers are more mindful of the money they spend and businesses can’t keep offering unsustainable discounts. Split bridges that gap by making purchases affordable for consumers so businesses don’t have to slash prices.”
Other fintech startups similarly offering instalments for online purchases include Indonesia’s Akulaku, backed by Alibaba and Eight Roads Ventures, and Singapore-based Rely.
Fintech startup Split raises seed funding from 500 Startups
As seen in The Business Times published on 10 June 2020, Sharanya Pillai
SPLIT, a Singapore and Malaysia-based startup offering buy-now-pay-later solutions, has raised an undisclosed round of seed funding led by 500 Startups and joined by other angel investors.
One of these angel investors is Louise Daley, deputy chief executive of AccorHotels Asia Pacific, who will also be joining Split’s board, the startup said in a Wednesday press statement.
Founded in 2018, Split provides a platform that allows businesses to provide consumers with a financing option with no interest, late fees or other charges.
The startup has partnered Malaysian brands Switch and Urban Republic, businesses of CG Computers, to offer instalment payments online and in-store pickup across 70 retail outlets. Other brands Split works with include wine importer Straits Wine Company and regional travel aggregator Easybook.
Khailee Ng, managing partner of 500 Startups said in the press statement: “We see incredible potential in how their instalment payment service works not just for large retailers but also serves a massive longtail of small and medium businesses selling online, offline or via social commerce.”
Split’s co-founder Dylan Tan added: “Covid-19 has brought enormous economic uncertainty; this means consumers are more mindful of the money they spend and businesses can’t keep offering unsustainable discounts. Split bridges that gap by making purchases affordable for consumers so businesses don’t have to slash prices.”
Other fintech startups similarly offering instalments for online purchases include Indonesia’s Akulaku, backed by Alibaba and Eight Roads Ventures, and Singapore-based Rely.
