DCS Card Centre secures add’l $100m upsize in asset-backed notes

The funds will be allocated to finance DCS's receivables from retail and corporate customers.

DCS Card Centre has secured an additional $100m in asset-backed notes, bringing its total funding to $400m. This follows the initial $300m raised in December 2023.

In a statement, the company said the upsize is a result of its successful 2023 business transformation, marked by partnerships with MasterCard, UnionPay, and an upcoming collaboration with Visa. These alliances facilitated the launch of credit card products such as the DCS Ultimate Platinum Cards and D-Lite Cards. 

“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,” said Karen Low, CEO of DCS Card Centre.

ALSO READ: DCS Card Centre raises $300m in upsized asset-backed notes offering

The funds will be allocated to finance DCS's receivables from retail and corporate customers, supporting the company's ongoing growth and ambition to establish itself as a leader in the payments sector. 

Fueled by upcoming product launches, the company foresees substantial growth in its credit card business for 2024, inspiring investor confidence in the $100m upsize.

DBS serves as the arranger for the deal, with potential future arrangements with other fund houses or financiers on the horizon.