Fazz is a digital financial services group formed by the merger of Payfazz and Xfers that offers business accounts and financial tools for MSMEs and larger corporations. Its core product set includes business accounts with payments, savings, and credit features, an agent-based app (Fazz Agen), a P2P lending arm for MSMEs (Modal Rakyat), and payments infrastructure (StraitsX). The company reported $10 billion in annualized transaction volumes last year and says it will use the new funding to scale its business-account products. Fazz aims to close a $300 billion funding gap for MSMEs by broadening access to digital payments, treasury functions, and growth capital. The company plans to double transaction volumes over the next 12 months and expand headcount from 800 to 1,400 across Singapore, Indonesia, Malaysia, Vietnam and Taiwan. CEO Hendra Kwik emphasized the company’s heavy investment in technology as a key differentiator for serving businesses of all sizes.

Total raised

$100M

Funding rounds

2

Latest round

Debt Financing

Latest activity

Sep 2022