Fazz Financial Reportedly in Process of Series C Fundraising

Fazz Financial Group (Fazz) is reportedly in the process of raising a Series C fund that has the potential to raise the company's valuation in the unicorn ranks. According to the information obtained DailySocial, at least $60 million (around 890 billion Rupiah) has been collected by the company from various parties.

DailySocial have contacted Fazz Financial to ask for confirmation, but until this news was published no response has been given.

This news has actually been detected since February 2022. Fazz Financial last announced Series B funding $53 million led by B Capital Group and Insignia Ventures in July 2020. Currently, by valuation Fazz is a centaur, raising more than $74,1 million in equity funding from blue chip investors, including Tiger Global, Y Combinator, and DST Partners.

To become the next unicorn, it is estimated that the company will raise series C funds with a minimum nominal of $150 million (2,2 trillion Rupiah). There are already several unicorn startups in the fintech sector, namely Ovo, Xendit, and Ajaib.

In an official statement previously submitted, Fazz has ambitions to use fresh funds to realize a super application that offers the ability to accept payments for business clients.high yield cash accounts, corporate cards, billing/invoicing, credit solutions, and expense management. It is said that now the company has transformed into a financial platform all-in-one largest and fastest growing business serving more than 150 businesses in Southeast Asia.

The Fazz platform enables MSMEs to digitize their financial and payment systems through four main pillars. First, businesses can accept all major payment types and allow transfers through all payment channels; can digitize a number of core financial and operational functions, including inventory management, bill payments, bookkeeping and payroll.

Then, take advantage of banking functions, including cash accounts, to help customers save and earn high returns. Fazz also provides corporate cards to facilitate business transactions between businesses. Lastly, businesses can access growth capital through Fazz's lending arm.

Blibli, Bukalapak, Aspire, Sirclo and Kargo Technologies are some of Fazz's main clients in Singapore and Indonesia.