hoolah, a Singapore-based startup that provides a Buy Now, Pay Later (BNPL) solution to merchants across the Southeast Asian region, recently announced that it has entered the market of Malaysia. With its entry into the country, the BNPL solution startup will bring its payment option solution that enables customers to pay later in installments with zero interest outside of its home base of Singapore into its very first market abroad. It is understood that the payments solution startup has established strategic partnerships with two Malaysian fashion technology startups as part of its launch and entry into the new market of Malaysia: BlinQ, a startup founded by seasoned entrepreneur Bob Chua that focuses on the region’s burgeoning luxury fashion e-commerce sector; and Novelship, an online trading platform that aims to make authentic luxury streetwear brands from across the world accessible to Southeast Asian consumers.
Richard Xia, chief executive officer of Novelship, said that hoolah’s zero interest BNPL payment option, which enables customers and consumers to pay in three interest-free installments, can provide their customers and users sustainable idealism in that they are able to purchase the exclusive luxury sneaker of their dreams in an affordable manner without having to disrupt their finances.
According to Bob Chua, chief executive officer and founder of the fashion technology startup BlinQ, the company is very much pleased to be strategically partnered with hoolah during this thrilling time in the retail space. Elaborating further on the partnership, Bob said that it affords the fashion technology company a flexible and smooth payment option that matches the needs of its consumers as part of BlinQ’s move to make sure that they can provide great product offerings. As their consumers and customers across the region are composed of the wealthy and aspiring part of the population, it is imperative that BlinQ is able to provide a great user experience that is both seamless and reliable that can satisfy their users. hoolah, being the provider of a flexible payment option solution in the form of BNPL, fits the bill quite well.
Stuart Thornton, chief executive officer of hoolah, said that the startup has always viewed its expansion into Malaysia as a key strategic move due to the country’s booming growth in the e-commerce space, as well as its close presence to their base of Singapore. Commenting on hoolah’s new partnerships with BlinQ and Novelship as part of its effort to establish a foothold in the new Malaysian market, Stuart enthused that the company is thrilled to be collaborating with both fashion technology companies as hoolah makes its debut in the new Malaysian market as they are both tremendously good partners. Stuart added that the BNPL solution provider startup is eagerly looking forward to working with their new partners in driving more conversions in Malaysia as well as across the Southeast Asian region.
The BNPL solution startup hoolah claims to be serving more than three hundred merchants across Singapore, both international and local, and has helped their merchants to increase their basket size and conversion by an average of twenty to thirty percent. It is an exciting time for both consumers and merchants alike across the region as hoolah brings its BNPL solution to new markets abroad, starting with Malaysia.