<div>
 
 
 <ul>
 <li>
 
 Mexico-based Aplazo, an omnichannel BNPL platform provider, has raised USD 70 million in equity funding led by QED Investors, with participation from Oak HC/FT, Kaszek, Picus Capital, and Volpe Capital. The funding includes USD 45 million from Series B funding. Aplazo's total funding now stands at USD 175 million.
 
 </li>
 <li>
 
 The company plans to use the funds toward product development and innovation, including using AI capabilities to meet consumer and merchant needs and support decision-making.
 
 </li>
 <li>
 
 Aplazo reported a 3x growth in revenue driven by expanding market share from online and offline merchants, along with strong financial performance and operating near breakeven over the past few months.
 
 </li>
 <li>
 
 Analyst QuickTake: 
 Aplazo&rsquo;s USD 70 million funding comes after Ramp raised 
 <a href="https://sp-edge.com/updates/28597">
 USD 150 million in Series D
 </a>
 (last month) to accelerate AI integration and Colombia-based Addi raised 
 <a href="https://sp-edge.com/updates/27801">
 USD 86 million in funding
 </a>
 , comprising USD 36 million in equity and USD 50 million in debt funding from Goldman Sachs Group (two months ago) to support business expansion.
 
 </li>
 </ul>
 
 
</div>

<div>
 
 <a href="https://www.businesswire.com/news/home/20240513556631/en/Mexico-based-Commerce-and-BNPL-Fintech-Platform-Aplazo-Secures-70-Million-in-Equity-Funding">
 Press release
 </a>
 
 
 <a href="https://techcrunch.com/2024/05/13/aplazo/?guccounter=1">
 TechCrunch
 </a>
 
</div>

Buy Now, Pay Later

ANALYST_QUICK_TAKE

<div>

 Aplazo, a Mexico-based Buy Now Pay Later (BNPL) platform provider, has successfully raised $70 million in an equity funding round. The funding was spearheaded by QED Investors and saw participation from Oak HC/FT, Kaszek, Picus Capital, and Volpe Capital. Of the total amount, $45 million comes from a Series B funding round. This brings Aplazo's total funding received to date to $175 million.
 
 Looking ahead, Aplazo will allocate these newly-acquired funds towards product development and innovation. In particular, the company is interested in incorporating AI capabilities to better meet the diverse needs of consumers and merchants and provide support in decision-making processes.
 
 Due to its expanding market share from both online and offline merchants, in conjunction with a robust financial performance and near breakeven operating over the recent months, Aplazo has experienced a threefold increase in revenue.
 
</div> Analyst QuickTake: 
 Aplazo’s USD 70 million funding comes after Ramp raised <a href="https: 
//sp-edge.com/updates/28597"> USD 150 million in Series D </a> (last month) to accelerate AI integration and Colombia-based Addi raised <a href="https: 
//sp-edge.com/updates/27801"> USD 86 million in funding </a> , comprising USD 36 million in equity and USD 50 million in debt funding from Goldman Sachs Group (two months ago) to support business expansion.

Aplazo raises USD 70 million in equity and Series B funding

PROMINENT_CATEGORY

<div>

Splitit, a Buy Now Pay Later (BNPL) provider, has introduced FI-PayLater, enabling financial institutions such as banks and card issuers to provide installment plans at merchant checkouts. This opens a path for these institutions into the growing BNPL market.
FI-PayLater will utilize Splitit's extensive merchant network and present a consolidated API with several integration avenues. These include direct connections, connections through payment networks, or integration via issuer processors. This implementation will facilitate banks and card issuers to generate additional fees from their existing clientele.

</div> Analyst QuickTake: 
 Splitit <a href="https: 
//sp-edge.com/updates/24947"> voluntarily delisted </a> from the Australian Securities Exchange (ASX) in December 2023 after the closure of Motive Partners' first tranche of USD 25 million in a USD 50 million <a href="https: 
//sp-edge.com/updates/21065"> growth funding </a> . FI-PayLater’s launch comes amid the second tranche of the investment and other ongoing closing prerequisites.

Splitit launches FI-PayLater for banks and card issuers

<div>
 Zilch, a UK-based BNPL provider, has expanded its partnership with Amazon Web Services (AWS) to enhance its platform's AI and ML capabilities and improve its offerings. Zilch plans to leverage AWS' AI and ML offerings, such as Amazon SageMaker and Amazon Bedrock, on its large volume of high-quality data to enhance its affordability limits setting, fraud detection, and buyer intent analysis.
</div>

Zilch expands partnership with AWS to improve platform capabilities

<div>
 Ramp, a business expense and payout management solutions provider, garnered USD 150 million in an extension of its Series D round. Khosla Ventures, a new investor, and Founders Fund, an existing investor, jointly led the round. Other participants included Sequoia Capital, Greylock, 8VC, among others.
 The investment will be utilized for technological advancement within the organization, with a focus on expanding its application of AI. The capital will also support possible acquisitions.
 With the recent investment round, the firm is now valued at USD 7.65 billion, an increase from its earlier valuation of USD 5.8 billion in its previous round of funding in <a href="https://sp-edge.com/updates/21235"> August 2023</a>.
</div> Analyst QuickTake: 
 The latest funding round brings Ramp’s valuation closer to the USD 8.1 billion valuation it had previously achieved during its series C funding round in March 2022. Similar to its <a href="https: 
//sp-edge.com/updates/26114"> acquistion of Venue </a> following its last funding round in August 2023, the firm may pursue inorganic growth to accelerate its expansion.&nbsp;

Ramp raises USD 150 million to accelerate AI integration and expansion; valuation grows to USD 7.65 billion

<div>
 
 Colombia's Addi, a Buy Now, Pay Later (BNPL) service provider, has recently secured a total funding of USD 86 million. The recent funding round included USD 36 million in equity funding from investors like Union Square Ventures, Andreessen Horowitz, and GIC Private Ltd. They also received USD 50 million in debt funding from the Goldman Sachs Group. With this recent funding, Addi's total funding to date has reached nearly USD 462 million, despite experiencing an estimated 50% drop in valuation from its <a href="https://sp-edge.com/updates/7447"> USD 700 million valuation </a> recorded in 2021.
 The company has now decided to put on hold its original plans to expand into Brazil and Mexico. Instead, they aim to utilize the recently secured funds to further support and enhance their expansion within their domestic market in Colombia.
 Despite these changes, Addi reported impressive growth statistics over the years. They reported over 60% growth in its user base, reaching over 2 million users in 2023. On the other hand, they also witnessed more than 13 times growth in terms of merchant partners, ballooning from an initial 1,000 in 2021 to a whopping 13,500 in 2023.
 
</div> Analyst QuickTake: 
 Despite the drop in valuation nearly two years after Addi raised <a href="https: 
//sp-edge.com/updates/7447"> USD 205 million </a> in combined debt and equity funding in December 2021, the company has reported significant growth in its client base and merchant partners. Addi intends to maintain its growth momentum by focusing on growing in its home market.&nbsp;&nbsp;&nbsp;

Addi raises USD 86 million in funding; estimated post-money valuation drops in half

INCUMBENTS_PRESENT

<div>
 
 Singapore's Atome, a flexible payment solution provider, has partnered with digital insurance provider Chubb to develop insurance products for customers in Singapore, Malaysia, the Philippines, and Indonesia.
 Utilizing Chubb’s digital insurance technology, Atome will introduce Bill Secure, its first insurance product which covers up to five times the transaction amount for Buy-Now-Pay-Later consumers in case of permanent disability or accidental death. Initially available in Singapore, it will be launched in Malaysia soon. A second product, Shopping Secure, is due to launch in the second quarter.
 
</div> Analyst QuickTake: 
 Atome is actively pursuing its product diversification strategy focused on expanding its offerings to provide services, such as insurance, cards, and investments. The company had also secured USD 31 million through an <a href="https: 
//sp-edge.com/updates/25270"> internal share conversion </a> in January 2024 to support its ongoing diversification efforts.

Atome partners with Chubb to offer insurance products across Southeast Asia

<div>
 
 Kafene, a buy now, pay later (BNPL) service that focusses on consumer goods like furniture and electronics, has entered into a partnership with BrandSource, a US and Canadian ecommerce platform specialising in home furnishings and consumer tech products. This collaboration aims to support Kafene's business expansion and increase its product accessibility.
 As part of the partnership strategy, Kafene aims to leverage BrandSource's extensive network of over 4,500 independent affiliated retailer members in the US and Canada to boost the reach of its products. This plan revolves around Kafene's tiered lease-to-own (LTO) pricing model, which, according to the company, provides customers with flexible financing terms that are specifically designed to match their risk profiles.
 
</div> Analyst QuickTake: 
 Leading up to this partnership, Kafene had recently secured USD 15 million in a <a href="https: 
//sp-edge.com/updates/26179"> venture debt facility </a> to scale up its commercial operations and broaden its consumer base (January 2024) and raised USD 12.6 million in <a href="https: 
//sp-edge.com/updates/22365"> Series B extension </a> to accelerate its merchant partnerships and increase capital allocation with consumer underwritings (October 2023).

Kafene partners with BrandSource to expand product reach

<div>

An UAE's Buy Now Pay Later (BNPL) platform, Tabby, has entered into a collaboration with EasyPay, a POS and online payment gateway based in Bahrain. The objective behind this alliance is to extend BNPL services in Bahrain.
As part of the joint venture, Tabby aims to broaden its product distribution in Bahrain with the use of EazyPay's POS terminals. The collaboration will allow Tabby to offer its "Pay in 4" solution to customers, enabling them to divide their purchases into four monthly installments without any interest.

</div> Analyst QuickTake: 
 Three weeks ago, Tabby launched " <a href="https: 
//sp-edge.com/updates/26975"> Tabby+ </a> ," its pay-in-four flexible payment offering. It allows users to make purchases anywhere Visa is accepted and split payments into four installments without interest or other fees. The service charges a monthly subscription fee of AED 49 (~USD 13) and offers 1% cashback on all purchases, 24/7 priority support, and a free first-month trial.

Tabby partners with EasyPay to expand product reach in Bahrain

<div>
 
 The UK-based BNPL provider, Zilch, is close to profitability and is planning an IPO next year, as announced by CEO Philip Belamant. The firm anticipates being cash flow-positive and generating monthly profits by the start of its next fiscal year.
 Bearing in mind the possibility of listing on the Nasdaq, the New York Stock Exchange, or the London Stock Exchange, Zilch is being considered. In addition, Belamant is actively advocating for financial innovation in the UK through his involvement with Innovate Finance's Unicorn Council.&nbsp;
 Boasting over 4 million customers, Zilch provides credit services with a six-week repayment structure. The company is also growing its advertising sales platform and considering the introduction of longer-term loans.
 
</div> Analyst QuickTake: 
 Zilch’s latest publicly disclosed post-money valuation stands at USD 2 billion after its USD 50 million <a href="https: 
//sp-edge.com/updates/11403"> extended Series C funding </a> in June 2022. Over the past two years, Zilch has <a href="https: 
//sp-edge.com/updates/7780"> extended its partnership with Mastercard </a> to launch BNPL cards across Europe, expanded geographically by launching its <a href="https: 
//sp-edge.com/updates/10520"> platform in the US </a> , and broadened product offerings with the launch of an <a href="https: 
//sp-edge.com/updates/19211"> Ad-Subsidized Payments Network </a> and " <a href="https: 
//sp-edge.com/updates/26933"> Pay over 3 months </a> ," an interest-free regulated credit offering in the UK.

Zilch eyes potential IPO in 2025

<div>
 
 Swedish company Klarna, which offers Buy Now Pay Later services, has introduced open banking-powered transactions in the United Kingdom. This move allows its consumers to make payments directly from their bank accounts.
 
 The aim behind introducing open banking payments is to decrease the cost of transactions and improve lending decisions. This is achieved by avoiding standard card networks and instead utilizing current bank account information.
 
 In order to pay via their banking application, Klarna users simply need to select the "Pay by bank" option. By linking bank data, Klarna can provide consumers with insight into their spending, offer budgeting tools, and make more informed lending decisions based on spending behaviour.
 
</div> Analyst QuickTake: 
 The SEPA Payment Account Access Scheme (SPAA), led by the European Payments Council, extends beyond the EU's Payment Services Directive (PSD2) requirement, offering banks ways to monetize their open banking APIs and foster collaboration between banks and FinTechs. In recent months, various FinTech infrastructure providers, such as <a href="https: 
//sp-edge.com/updates/25545"> TrueLayer </a> , <a href="https: 
//sp-edge.com/updates/25924"> Token </a> , <a href="https: 
//sp-edge.com/updates/26940"> Tink </a> , and <a href="https: 
//sp-edge.com/updates/27100"> Volt </a> , have joined SPAA to improve open banking monetization.

All Updates

Aplazo raises USD 70 million in equity and Series B funding

Splitit launches FI-PayLater for banks and card issuers

Zilch expands partnership with AWS to improve platform capabilities

Ramp raises USD 150 million to accelerate AI integration and expansion; valuation grows to USD 7.65 billion

Addi raises USD 86 million in funding; estimated post-money valuation drops in half

Atome partners with Chubb to offer insurance products across Southeast Asia

Kafene partners with BrandSource to expand product reach

Tabby partners with EasyPay to expand product reach in Bahrain

Zilch eyes potential IPO in 2025

Klarna launches open banking-powered settlements in UK

Buy Now, Pay Later

Aplazo raises USD 70 million in equity and Series B funding

Contact us