FAZZ
FAZZ, formerly known as PAYFAZZ, is a Jakarta-based fintech company specializing in b2b neobanking and payment solutions, serving over 500 businesses across Southeast Asia.
Company Overview
FAZZ, previously known as PAYFAZZ, is a fintech company based in Jakarta, Indonesia. The company operates in the fintech sub-industry and has a significant presence in Southeast Asia. Launched in 2017, FAZZ has grown to a team of 500 employees, providing a range of financial services primarily focused on business clients and underbanked segments. The company is also a licensed Major Payment Institution in Singapore.
Services
FAZZ provides a variety of financial services tailored to businesses, including a multi-currency account with no bank fees, a corporate card offering 1% cashback on eligible purchases, business loans up to S$300K with quick approval, and a savings account yielding 2% p.a interest paid daily. Additionally, FAZZ offers seamless cross-border FX payments, business cash accounts, payment APIs, and invoice processing capabilities. The company also provides SaaS solutions such as inventory and expense management.
Financial Performance
FAZZ processes more than $6 billion of annualized Gross Transaction Value (GTV) and has achieved $25 million in annualized revenue. The company also processes over $500 million annually and is trusted by more than 500 local and global businesses. Their financial products and services enable them to serve mid-market and enterprise clients effectively while supporting underbanked segments such as warungs and startups.
Funding and Investors
FAZZ has raised over $74 million USD from prominent investors, including Tiger Global, DST, Y Combinator, B Capital Group, and Insignia Ventures. The company was part of Y Combinator’s S17 batch, receiving initial support and mentorship that helped propel its growth in the competitive fintech landscape.
Regional Operations
FAZZ operates primarily in Indonesia and Southeast Asia, offering services both locally and remotely. The company has tailored its solutions to meet the needs of regional business clients, providing robust financial tools and products. Their aspirations to build a super-app for mid-market and enterprise clients underline their commitment to regional growth and innovation.