'Buy now, pay later' (BNPL) solution provider Pace Enterprise has secured an eight-figure debt financing round led by Genesis Alternative Ventures.

The new debt financing facility will be used to grow Pace’s business in the region, where it has already seen a 1,300% growth in users and 200% growth in merchant partners since January 2021, said Pace in a press release on June 16.

“We are very impressed with the incredible growth that Pace is experiencing. As one of the newer entrants, Pace has quickly captured the fintech market in the region. With a powerful vision for financial inclusion across Asia Pacific and a strong, talented founding team, we believe in Pace’s transformational impact,” said Jeremy Loh, managing partner at Genesis Alternative Ventures.

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