Pace Enterprise (Pace), a fintech solutions provider, has announced an exclusive regional partnership with luxury goods and retail specialist, Valiram.
Valiram’s brands in the region will provide Pace’s Buy Now Pay Later (BNPL) service to all clients through this agreement, allowing them to split their purchases over three interest-free installments through this partnership.
Mukesh Valiram, Executive Director, Valiram said, “We are indeed excited with this partnership which will allow us to extend a new flexible payment option to our customers. Brands under our group will be able to unlock a new segment of consumers.”
The partnership will extend Pace as an alternate payment option to more than 20 worldwide brands represented by Valiram throughout the region, including popular consumer names such as Michael Kors, TUMI, Victoria’s Secret, Bath & Body Works, Steve Madden, Nike in Thailand, and Pedro in Malaysia.
Pace will give users control over their budgeting and expenditure and empower customers to practice sustainable spending through its simple, accessible and transparent interface.
Pace also be offering Debt financing round led by Singapore’s Genesis Alternative Ventures. Notably Pace has secured an eight-figure debt financing round led by Genesis Alternative Ventures, to fuel its rapid growth.
The new debt financing facility will be used to grow Pace’s business in the region, where it has already seen a 1,300 percent growth in users and 200 percent growth in merchant partners since January this year.
Fuad, Founder and CEO, Pace added, “Our aim is to change the way consumers in Asia Pacific shop, and we are proud to be partnering with remarkable brands and institutions to serve a traditionally underserved segment of customers. With over 900 points-of-sale and over 550 percent growth in gross merchandise value (GMV) since January, we’re encouraged by the exponential growth we’re experiencing.”
More brands will be added to the list as the rollout progresses. Pace payment will be accepted at all points of sale, including online, mobile apps, and over 200 locations in Singapore, Malaysia, Thailand, and Macau.