Singaporean fintech DCS Card Centre has secured an additional S$100 million in asset-backed notes, raising their total funding to S$400 million. This move follows the S$300 million previously raised in December 2023.

The funds from the additional issuance will be directed towards financing DCS’s receivables from both retail and corporate customers, facilitating further expansion. The company aims to focus on innovation and catering to underserved market segments.

The company has expanded its portfolio by partnering with major payment schemes including MasterCard, UnionPay, and Visa, which is expected soon.

These partnerships have enabled the introduction of new credit card products such as the DCS Ultimate Platinum Cards and D-Lite Cards, with more launches anticipated in 2024.

DBS serves as the arranger for this deal, with possibilities of engaging more fund houses or financiers in the future.

Karen Low

Karen Low, CEO of DCS Card Centre said,

“Following our successful business transformation in the past year, we have entered an exciting next phase of growth with a robust pipeline of product launches and innovative initiatives ahead.

Our commitment remains steadfast in delivering value and growth for our stakeholders and the upsize underscores investor confidence in DCS.”

Featured image credit: Edited from Freepik

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