Daily Markup #1141: Fairbanc secures US$3M loan financing to empower entrepreneurs through innovative, accessible Buy Now, Pay Later solution

Photo credit: DealStreetAsia

 Financing growth for more

  • Fairbanc’s Buy Now, Pay Later (BNPL) solution has been transforming how MSMEs (micro, small, and medium enterprises) access financing since its successful pilot with Unilever in Bangladesh.
  • Officially launched in Indonesia in 2021, Fairbanc empowers MSMEs to purchase inventory on BNPL credit through partnerships with leading consumer brands.
  • With over 550,000 merchants onboarded, Fairbanc collaborates with vendors serving industries like FMCG, healthcare, and pharmaceuticals, ensuring broad access to essential goods.
  • Now, the 500-backed embedded finance startup has secured ~US$3M in loan financing from Indonesia’s state-owned venture capital firm, Bahana Artha Ventura (BAV).
  • This funding will unlock even greater access to capital for Fairbanc’s partners.
  • Their BNPL solution requires no collateral, credit history, smartphone ownership, or digital literacy. Instead, Fairbanc leverages supply chain data from FMCG distributors to automate credit scoring and risk monitoring.
  • Founder & CEO Mir Haque shared, “This collaboration offers a tremendous opportunity to empower millions of underserved entrepreneurs by providing them with short-term financing options and driving economic growth.”
  • Read the full story on DealStreetAsia.
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