← State of Embedded Finance 2026

Love, Bonito

Can a Southeast Asian womenswear DTC brand scale into a global omnichannel business serving the Asian diaspora?

Founded2010
HQSingapore
Total raised$80.0M
Latest roundSeries C, 2021
IndustryE-commerce / DTC brand
The story

Love, Bonito began in 2010 as a Singapore-based blogshop and evolved into Southeast Asia's largest direct-to-consumer omnichannel womenswear brand. Its 2021 Series C funded geographic expansion (Philippines, US) and an omnichannel build-out. The embedded finance angle is purely buyer-side: payments acceptance, BNPL at checkout, and FX/treasury for cross-border revenue — not a finance product of its own.

Last 12 months
Product timeline
2010
Founded in Singapore; transitioned from blogshop to original womenswear designs.· pivot
2021
Raised US$50M Series C led by Primavera Capital to expand globally and into the US.· funding
2023
Expanded into the United States, including pop-up retail in California and New York.· expansion
The stack
Payments / PSP
PayPal
Lending
ShopBack PayLaterShopBack PayLater (3-instalment BNPL at checkout, Singapore)
FX & payouts
Airwallex
Accounting gap: none