hoolah secures eight-figure series A funding from VC firm Allectus

The proceeds will be used to double down on their entry in Malaysia.

Buy-now-pay-later platform hoolah bagged an eight-figure investment led by venture capital firm Allectus in a series A funding round.

The proceeds will be used to double down on their Malaysia debut and fuel further expansion. Joining the round are Singapore-based iGlobe Ventures, who participated in hoolah’s seed round; Genting Ventures; Max Bittner, the former group CEO of Lazada; and Tim Neville, who is the CEO of fintech firm FNZ.

Founded in 2018, hoolah offers an omnichannel solution for online shopping. It allows customers to pay in three monthly installments without any interest or hidden fees. The startup has partnered with Sennheiser, HipVan and Skin Inc.

As over 90% of retail still occurs in a physical store, the core investment focus is to enable the team to build an omnichannel solution that enables customers to shop online and in-store.