Oon & Bazul’s M&A Practice, together with counsels in the United States, successfully acted for Trail Mix Ventures (TMV), a New York-based venture capital firm, as the lead investor in the latest US$2.2 million funding round for Plentina, a Philippines-based Buy Now Pay Later (BNPL) startup for emerging markets.
TMV is a New York based, early-stage venture firm, that invests in purposeful startups reimagining the future.
Plentina was founded in 2019 and offers BNPL and other data-driven financial services to emerging markets exclusively, beginning with the Philippines. The company draws on its co-founder’s data science backgrounds and uses machine learning models to gauge the creditworthiness of loan applicants.
The new capital will be used to fast-track Plentina’s growth in the Philippines, expand its product lines and start exploring launches in other countries, such as expanding to Vietnam in 2022.
This funding round was led by TMV, with participation from Global Founders Capital and returning investors, AV Ventures, Techstars and Unpopular Ventures.
Corporate Partner and Head of M&A Ng Yi Wayn led the Singapore team in this transaction.