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Fairbanc provides BNPL for micro-merchants in Indonesia



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“Buy now, pay later” (BNPL) startups have gained traction by targeting consumers, but BNPLs for businesses are also starting to take off. One example is Fairbanc, which is based in Singapore but focused on Indonesia. It allows small businesses to take out short-term credit to purchase fast-moving consumer goods (FMCG) inventory. Fairbanc announced today it has raised $4.8 million in pre-Series A funding led by Vertex Ventures.
Other participants in the round included Indonesian conglomerate Lippo Group, Asian Development Bank and Accion Venture Lab. Fairbanc also received previous investment from East Ventures, 500 Global and Michael Smapoerna.
Fairbanc will use its new funding on expanding in Indonesia, and exploring new markets like Vietnam and the Philippines in partnership with Unilever. It also plans to expand into verticals beyond f …

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