While others in the space may be gunning for large retailers and chains, OctiFi is looking to help sellers who may be struggling with the sudden need to digitalise, especially when shops were closed earlier at the outbreak of the pandemic.
As one of the younger players in the BNPL space here, OctiFi is adopting a grassroots approach. “We help small businesses by empowering them with a customer financing solution, so they can offer interest-free instalments to customers anywhere,” says co-founder Ed Chin in an interview with The Edge Singapore.
OctiFi was founded in September 2019 and launched in July 2020. Chin considers it a milestone to have kickstarted operations at the height of the Covid-19 outbreak. “In terms of operating history, we’re fairly new… We did plan on launching a bit earlier because we were unable to make contact with merchants [during the circuit breaker], that obviously delayed it,” he says.
