Xfers
Xfers, now rebranded as Fazz Business, is a fintech company based in Singapore that provides a financial super app and neobank services for micro and small businesses in Southeast Asia.
Company Overview
Xfers, a fintech company based in Singapore, operates primarily in the payments sub-industry. Launched in 2015, Xfers provides comprehensive financial services tailored for micro and small businesses in Indonesia and broader Southeast Asia. Initially recognized for its robust financial solutions, Xfers aimed to unify banking networks in the region, offering interbank transfers, bill payment, e-money, and phone credit top-ups. The company has since rebranded to Fazz Business and continues to support the underbanked through a financial super app.
Products and Services
Xfers offers a range of financial solutions, including business accounts, payment processing, receiving services, earning opportunities, cards, and loans. The company also provides a neobank for businesses in Southeast Asia and payments infrastructure for digital assets. Additionally, Xfers supports credit card processing, internet banking transfers, and API integrations for various businesses. These services cater primarily to micro, small, and medium enterprises (MSMEs) that need reliable financial tools.
Service Regions and Target Markets
Xfers operates predominantly in Singapore and Southeast Asia. The company targets micro and small businesses, particularly in Indonesia, providing tailored financial solutions to the underbanked. Its regional services aim to unify banking networks across Southeast Asia, enabling seamless interbank transfers and other essential financial transactions for entrepreneurs and MSMEs in these regions.
Investor and Funding Information
Xfers has attracted investments from notable entities including Quest Ventures, 500 Startups, and Golden Gate Ventures. In 2016, the company announced its first round of seed funding. Additionally, Xfers has received support from angel investors, most prominently Eduardo Saverin. The company's early success and investor support have underscored its position in Southeast Asia’s fintech landscape.
Milestones and Recognition
As a graduate of Y Combinator's Summer 2015 class, Xfers was recognized for its innovative financial solutions. The company was featured on TechCrunch and dubbed the 'Paypal of Southeast Asia' by Channel News Asia. The rebranding to Fazz Business marks a new chapter in the company's commitment to providing comprehensive financial services to businesses in the region.