Payfazz invests $30M in Xfers as the 2 Southeast Asian fintechs form Fazz Financial Group

by RJ Shara | Mar 4, 2021 | Fundings and Exit, Startups

Payfazz and Xfers, 2 startups that want to increase financial inclusion in Southeast Asia, announced today they have signed up with forces to create a new holding entity called Fazz Financial Group. As part of the deal, Payfazz, an agent-based monetary services network in Indonesia, invested $30 million into payments infrastructure company Xfers. Based in Singapore, Xfers […] , two startups that want to increase financial addition in Southeast Asia, announced today they have actually joined forces to produce a brand-new holding entity called Fazz Financial Group. Based in Singapore, Xfers will serve as the B2B and Southeast Asia arm of Fazz Financial Group, while Payfazz, which already utilizes Xfers’ payments infrastructure, will continue expanding in Indonesia. Kwik will serve as Fazz Financial Group’s group CEO, while Liu will be the financial entity’s deputy CEO. …