The partnership extends Pace as an alternative payment option to over 20 international brands represented by Valiram in the region. Valiram brands will offer Pace’s Buy Now Pay Later (BNPL) solution to all its customers.
Initially, the partnership will include Valiram’s popular consumer brands such as Michael Kors, TUMI, Victoria’s Secret, Bath & Body Works, Steve Madden, and Nike in Thailand and Pedro in Malaysia.
The rollout will progressively extend to include more brands. Payment via Pace will be available upon checkout across all points-of-sale, including websites, mobile apps, and over 200 points-of-sale in Singapore, Malaysia, Thailand, and Macau, according to the announcement.
“We are indeed excited with this partnership which will allow us to extend a new flexible payment option to our customers. Through this partnership, the brands under our group will be able to unlock a new segment of consumers,” said Mukesh Valiram, executive director at Valiram.
At the same time, Pace said it has secured an eight-figure debt financing led by Genesis Alternative Ventures, one of the top venture lenders in Southeast Asia.
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 this year.
Beyond Valiram, Pace has also secured multiple local and regional merchant partnerships, with brands such as ALDO, Miniso, Swee Lee, OG, Benjamin Barker, and Motherswork.
Pace remains committed to strengthening and expanding existing partnerships with OSIM, FJ Benjamin, and Wonderscape group.
“Our aim is to change the way consumers in Asia Pacific shop, and we are proud to be partnering with remarkable brands and institutions to serve a traditionally underserved segment of customers,” said Turochas Fuad, Pace’s founder and CEO.
Pace focuses on providing digital financial products for merchants and consumers in the region. Its BNPL solution for offline and online merchants matches customers with appropriate spend limits, allowing them to split their purchases over three interest-free installments.
The startup currently operates in Singapore, Malaysia, Hong Kong, and Thailand.