Gckj Brooklinen Pops Up And Branches Out To Cap Off 2018
Cashew, a buy now, pa
stanley us y later BNPL firm from the United Arab Emirates UAE , has secured up to $10 million in debt and equity financing from M
stanley cup ashreqbank, a local lender, to help it expand more quickly, Reuters wrote Monday May 9 .Cashew CEO Ammar Afif said Mashreqs stake was a minority one, but could increase to 20% if the lender participates in f
stanley water bottle uture funding rounds. He added that the funding would help the company grow, allowing Cashew to offer credit on larger purchases including travel, education and healthcare.Afif said Cashew is looking at getting 5,000 merchants and 500,000 users by the end of the year. He added that transaction volume is likely to surge at least tenfold to $10 million a month by the end of the year. Currently, that number is sitting at $1 million.The deal comes as the Gulf has a burgeoning scene for BNPL, receiving interest from various funds, including Silicon Valley investors.BNPL has become popular over the last few years as consumers, constrained by economic woes and inflation, have found value in being able to pay for things in installments.Mashreq seems to believe the BNPL trend has legs, as it has predicted BNPL transaction volumes in the UAE will be up this year by 60% to 80% compared to last year.PYMNTS wrote that healthcare will likely see disruptions because of BNPL, which could help out patients and medical practices alike.Read more: Buy Now, Pay Later Puts Healthcare Payments Under the KnifeStartup Walnut is helping that disruption, hav Cbxc PayPal For Marketplaces Launches Today
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