In a remarkable financial move, Singapore’s DCS Card Centre has fortified its position in the fintech sector by securing an additional S$100 million in asset-backed notes. This strategic funding upsize brings the company’s total capital to a substantial S$400 million, marking a significant milestone in its growth narrative.
The recent capital boost is a follow-up to the S$300 million raised in December 2023 and is designated for financing the receivables of DCS’s expanding clientele, which includes both retail and corporate sectors.
DCS card centre
DCS Card Centre’s journey of transformation and expansion is evident through its partnerships with leading payment schemes such as MasterCard and UnionPay, and an anticipated collaboration with Visa. These alliances have facilitated the introduction of cutting-edge credit card products like the DCS Ultimate Platinum Cards and D-Lite Cards, with more innovative offerings on the horizon for 2024.
DBS Bank, the arranger for this deal, has been instrumental in this financial endeavor, and there’s a possibility of engaging with more fund houses or financiers in the future. Karen Low, the CEO of DCS Card Centre, exudes confidence in the company’s trajectory and product pipeline, attributing the funding upsize to the investors’ trust in DCS’s vision and its commitment to addressing the needs of underserved markets with creative solutions.
This financial achievement not only reflects the market’s trust in DCS Card Centre’s strategic direction but also underscores its influential role in shaping the future of the payments industry.
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