Rely bags up to US$100m Goldbell financing for buy-now-pay-later

FINTECH firm Rely has obtained a facility from a unit of local small and medium-sized enterprise Goldbell Financial Services to finance up to US$100 million in buy-now-pay-later transactions, the startup announced in press statement.

The facility is provided by Polaris, the strategic partnerships arm of Goldbell Financial Services. This will allow Rely to expand its BNPL service to new merchants, the startup said. Separately, Rely has inked a partnership with retail landlord Lendlease to provide BNPL services for consumers at the mall 313@somerset. Looking ahead, the startup aims to scale operations and enter partnerships with retailers in Singapore, Malaysia and South Korea.

"Scaling with Rely, a pioneer and leader in Singapore's BNPL industry, demonstrates the culmination of Polaris's personalised data-centric approach to lending," says Alex Chua, chief executive of Goldbell Financial Services. "By coupling Rely's data acquisition capabilities with Polaris's innovative and scalable funding structure, Rely can sustainably support larger digital transactions," he added.

Great confidence!

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