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- Fazz
Fazz Funding, Investors & Competitors
Fazz has raised $167M across 6 funding rounds, most recently a $13M strategic investment round in August 2026.
Last Fazz funding round
$13M
Strategic investment · Aug 2026
Cumulative funding Fazz raised
$167M
across 6 funding rounds
Key investors in Fazz
Tiger Global
DST Global
Y Combinator
B Capital
Insignia Ventures Partners
Liquid 2 Ventures
Partech
Quiet Capital
About Fazz
Fazz is a Singapore- and Indonesia-headquartered fintech company founded in 2016 through the merger of PayFazz and Xfers. It provides digital banking, payments, and investment services to SMEs and enterprises across Southeast Asia. Products include Fazz Agen for agent banking to micro-businesses, Fazz Business for corporate accounts handling payments and funding, and Fazz Invest for capital growth. The platform processes billions in transaction volume annually and holds licenses from Bank Indonesia and Monetary Authority of Singapore.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Usage-based
Fazz Funding History
Fazz has raised a total of $167M across 6 funding rounds.
Fazz's first fundraising round was a $100K seed round in August 2017. The most recent completed round was a $13M strategic investment round in August 2026.
Fazz funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Aug 2026 | Strategic investment | NTT DoCoMo (lead) | $13M | Indonesian fintech startup Fazz secured fresh funding from Japan’s NTT DOCOMO through the issuance of preference shares, with the latest allotment completed at the same preference share price used in prior rounds, indicating a stable valuation benchmark across recent financings. The transaction added NTT DOCOMO to Fazz’s cap table and brought the company’s total capital raised across equity and debt closer to the $200 million mark. The investment supports Fazz’s continued expansion of its regional financial services platform. Fazz was formed through the combination of Indonesia’s PayFazz and Singapore-based Xfers and is backed by investors including Insignia Ventures Partners, Tiger Global, B Capital, and ACE & Company. Fazz operates as a Southeast Asian fintech platform with roots in Indonesia and Singapore, and the latest funding round extends its financing history as it grows its cross-border financial services business. |
| Mar 2023 | Series A | MUFG (lead) | $5M | Fazz, a Southeast Asian fintech startup, raised $5.3 million in funding from Mitsubishi UFJ Financial Group (MUFG) in March 2023. |
| Sep 2022 | Series C | Hans Tung; InterVest Co.; Tiger Global; EDBI; Insignia Ventures Partners; B Capital; DST Global; llham; Michael Seibel | $75M | Fazz, a Southeast Asian B2B fintech platform formed by the 2021 merger of Indonesia's PayFazz and Singapore's Xfers, raised $100 million in Series C funding on September 14, 2022, comprising $75 million in equity and a $25 million debt facility from Lendable. Equity investors included returning backers Tiger Global, DST Global (or DST Investment), B Capital, Insignia Ventures Partners, and ACE & Company, plus new participants Ilham Ltd (or llham), EDBI, InterVest, Y Combinator's Michael Seibel, and GGV Capital's Hans Tung. The funds aim to enhance business accounts offering payments, savings, and credit for MSMEs and larger enterprises, double annualized transaction volumes from $10 billion over the past year, and expand headcount from over 800 to 1,400 across Singapore, Indonesia, Malaysia, Vietnam, and Taiwan. Fazz's products include Fazz Agen, an agent-based app for micro and small Indonesian businesses providing payments, wholesale purchases, and capital access; Fazz Business, a platform for startups, MSMEs, and corporations to manage payments, capital growth, and funding across Southeast Asia; Modal Rakyat, a P2P lending service for MSMEs; and payments infrastructure for digital assets like StraitsX. The company targets the $300 billion MSME funding gap worsened by the pandemic, emphasizing technology to deliver enterprise-grade financial tools to small family shops and warungs. CEO Hendra Kwik highlighted technology as the key differentiator, enabling underserved businesses to access digital payments, treasury, and growth capital. Tiger Global's Alex Cook noted Fazz's rapid adoption by small businesses and large corporations. |
| Jul 2020 | Series B | B Capital (lead); Insignia Ventures Partners (lead); BRI Ventures; Y Combinator; Liquid 2 Ventures; Tiger Global; Quiet Capital; DST Global | $53M | Payfazz, an Indonesia-based fintech providing financial and payment services through agent networks, raised USD 53 million in Series B funding led by B Capital Group and Insignia Ventures Partners. The round included participation from existing investors Tiger Global Management, Y Combinator, ACE & Company, and Quiet Capital, as well as new backer BRI Ventures, the venture arm of Indonesia's largest bank. The company planned to use the capital to strengthen its financial services ecosystem in Indonesia's rural economy and explore expansion across Southeast Asia. Payfazz operated a network of over 250,000 active agents and served approximately 10 million Indonesian users making monthly transactions. The platform offered services including prepaid phone credit purchases, utility bill payments, mobile wallet top-ups, peer-to-peer lending, point-of-sale systems, and a freelancer marketplace. In 2019, the company processed USD 1.2 billion in annual transaction volume, up from USD 250 million in 2018, earning a 1% commission per transaction. Payfazz later merged with Singapore-based Xfers in March 2021 to form Fazz, expanding its regional footprint. |
| Oct 2018 | Series A | DST Global (lead); Tiger Global (lead) | $21M | PayFazz, later rebranded and merged into Fazz, was an early Indonesian fintech startup that became the first from Indonesia to join Y Combinator and raised over $21 million in a funding round from investors including Tiger Global Management and Yuri Milner's DST Global around 2018. Fazz, formed from the 2021 merger of Indonesia-founded PayFazz and Singapore-founded Xfers, operates as a B2B fintech platform offering business accounts for payments, savings, and credit access tailored to small retailers via Fazz Agen, startups and enterprises via Fazz Business, MSME peer-to-peer financing through Modal Rakyat, and payments infrastructure including StraitsX for digital assets. It targets Southeast Asian businesses from micro-enterprises to Fortune 500 companies, emphasizing technology to enable digital financial tools in underserved markets. Later rounds provide context on growth: in September 2022, Fazz raised $100 million in Series C funding, including $75 million equity from Tiger Global, DST Investment, B Capital, Insignia Ventures Partners, ACE & Company, plus new participants like Ilham Ltd, EDBI, InterVest, Y Combinator's Michael Seibel, and GGV's Hans Tung, alongside a $25 million debt facility from Lendable. This followed a Series B of $83 million, bringing total funding near $200 million. By then, Fazz reported $10 billion in annualized transaction volumes over the prior year, aiming to double it within 12 months while expanding headcount from 800 to 1,400 across Singapore, Indonesia, Malaysia, Vietnam, and Taiwan. Sources confirm investor continuity from early PayFazz rounds into Fazz's later growth phases. |
| Aug 2017 | Seed | Y Combinator (lead); Partech | $100K | - |
Who has invested in Fazz?
16 investors have backed Fazz across its funding rounds, including Tiger Global, DST Global, Y Combinator, B Capital, Insignia Ventures Partners and Liquid 2 Ventures.
Lead investors include NTT DoCoMo, MUFG, B Capital, Insignia Ventures Partners, DST Global and 2 other investors.
Fazz Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Oct 2018 | ||
| 3 | Lead | Oct 2018 | ||
| 2 | Lead | Aug 2017 | ||
| 2 | Lead | Jul 2020 | ||
| 2 | Lead | Jul 2020 | ||
| 1 | Participant | Jul 2020 | ||
| 1 | Lead | Mar 2023 | ||
| 1 | Participant | Jul 2020 | ||
| 1 | Participant | Aug 2017 | ||
| 1 | Participant | Sep 2022 | ||
| 1 | Lead | Aug 2026 | ||
| 1 | Participant | Sep 2022 | ||
| 1 | Participant | Sep 2022 | ||
This data is available for Pro users. Sign up to see all 16 Fazz investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Fazz
Fazz has acquired 1 company to date.
Last acquisition by Fazz was on August 30th 2022. Fazz acquired StraitsX for undisclosed valuation.
Latest Acquisitions by Fazz
| Description | StraitsX is a Singapore-headquartered digital asset platform offering personal and business accounts for depositing, holding, and withdrawing fiat and digital currencies. It enables connections to cryptocurrency exchanges and provides B2B API payment rails, along with the issuance of XSGD, a fully backed Singapore dollar stablecoin pegged 1:1 to SGD reserves held in regulated custodians. |
| HQ Country | |
| HQ City | Singapore |
| Deal Date | 30 Aug 2022 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Fazz acquisitions and their M&A valuation multiples. Start Free Trial | |
Investments by Fazz
Fazz has invested in 1 company to date.
Latest investment by Fazz was on March 4th 2021. Fazz invested in Xfers in their $30M Strategic investment round.
Latest Investments by Fazz
| Description | Xfers is a Singapore-regulated Major Payment Institution licensed for e-money issuance by the Monetary Authority of Singapore. The platform provides APIs for payments, payouts, and financial services targeting Southeast Asia's underbanked markets. Xfers integrates invoicing, remittances, and virtual accounts for e-commerce and gig economy businesses. |
| HQ Country | |
| HQ City | Singapore |
| Deal Date | 4 Mar 2021 |
| Round | Strategic investment |
| Raised | $30M |
| Investors | PAYFAZZ |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Fazz investments and their VC round multiples. Start Free Trial | |
Fazz Competitors
Fazz competitors include listed companies like Paymentus, Block and PayPal, and private ones like Rapyd, Stripe and Ant Group.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1.2B | $117M | $4.6B | 3.0x | ||
| Private | $1B | - | $4.5B | 4.5x | ||
| Private | $6.9B | - | $159B | 23.0x | ||
| Private | $25B | - | $79B | 3.2x | ||
| Publicly listed | $24B | $2.2B | $46B | 1.6x | ||
| Publicly listed | $33B | $7.2B | $45B | 1.4x |
Fazz Public Comps
Fazz is still privately-owned, but its public comps include Shopify, MercadoLibre, Block, PayPal, Adyen, Corpay, Fiserv, LPL Financial, Global Payments and Kaspi.kz.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $12B | $1.2B | 13.9x | 11.3x | 132.9x | 61.9x | |||
| $29B | $3.7B | 3.5x | 2.6x | 27.2x | 25.1x | |||
| $24B | $2.2B | 1.7x | 1.6x | 18.6x | 9.4x | |||
| $33B | $7.2B | 1.4x | 1.4x | 6.6x | 6.9x | |||
| $3B | $1.4B | 6.5x | 6.3x | 13.7x | 11.9x | |||
| $4.5B | $2.4B | 7.6x | 6.8x | 14.1x | 12.7x | |||
| $21B | $8.9B | 2.5x | 2.8x | 6.1x | 6.4x | |||
| $17B | $2.2B | 1.9x | 1.6x | 14.8x | 10.7x | |||
This data is available for Pro users. Sign up to see all Fazz competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Fazz
| When was Fazz founded? | Fazz was founded in 2016. |
| Where is Fazz headquartered? | Fazz is headquartered in Singapore, Singapore. |
| Is Fazz publicly listed? | No, Fazz is a private, VC-backed company. |
| How much funding has Fazz raised? | Fazz has raised $167M across 6 funding rounds. |
| What was Fazz's last funding round? | Fazz's last funding round was a $13M strategic investment round in August 2026, led by NTT DoCoMo. |
| Who are Fazz's investors? | Fazz's investors include Tiger Global, DST Global, Y Combinator, Insignia Ventures Partners, B Capital, BRI Ventures, MUFG, Liquid 2 Ventures, Partech, Hans Tung and 6 others. |
| Which companies are comparable to Fazz? | Companies comparable to Fazz include Paymentus, Rapyd, Stripe, Ant Group, Block and PayPal. |
| How many companies has Fazz acquired? | Fazz has acquired 1 company, including StraitsX. |
| How many companies has Fazz invested in? | Fazz has invested in 1 company, including Xfers. |
| What was Fazz's last investment? | In March 2021, Fazz invested in Xfers' $30M strategic investment round alongside PAYFAZZ. |
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