Indonesia-based fintech PAYFAZZ has invested USD 30 million in Xfers, a Singapore-based fintech providing financial access to businesses via its payment’s infrastructure across Southeast Asia.
Following this agreement, both companies will be part of Fazz Financial Group (FFG), to provide inclusion through financial services across Southeast Asia. Both companies will continue retaining their respective names whilst operating under this new financial entity.
With this investment, Xfers will serve as the designated B2B arm of FFG – focussed on connecting external merchants to the payment infrastructure and user network amassed by FFG as a group.
Source : From the Web