02-May-18, Tech In Asia
Veteran fintech startup MC Payment announced that it will fully acquire iFashion Group, an online fashion and lifestyle retailer in Singapore.
%20MC%20Payment.jpg "Fintech startup MC Payment to acquire iFashion Group (c) MC Payment")
Image: MC Payment
MC Payment already owns 51 percent of iFashion and will buy the rest of the firm. The value of the additional stake is equivalent to two revenue for 2017 and could reach as high as USD18.7 mn.
Before getting acquired itself, the lifestyle platform had been growing via acquisitions, snapping up fashion and e-commerce labels in Southeast Asia, including Dressabelle, Megafash, and Invade.