BigPay Secures US$100 Million In Financing To Expand Digital Financial Offerings
Author Avatar

BigPay has finalised up to US$100 million in financing from SK Group, one of South Korea’s largest conglomerates and tech innovators. This is the first time any portfolio company within AirAsia Digital has secured financing of this size.

“Our mission is to become a leading challenger bank across Southeast Asia,” said Salim Dhanani, CEO and co-founder of BigPay. “We’ve established ourselves in Malaysia as one of the leading providers of digital banking services, and we want to expand our product sets, along with growing the model to new markets. Thailand and the wider ASEAN is next, but we’ll be launching key products before that – with fully digital personal loans, transactional lending and an offering for mSMEs.”

(Image: The Malaysian Reserve)

AirAsia Group CEO Tony Fernandes said that this is the first investment into one of AirAsia’s portfolio digital companies and a testament to their digital growth story. “SK Group is second to none when it comes to innovation and experience, so we truly believe they can share their expertise and know-how so that this investment can mark the beginning of a new exciting digital banking era,” Fernandes said.

Meanwhile, Jung Kyu Kim, chief representative of SK Malaysia said that SK Group will be able to make a significant contribution to BigPay in both technical and consumer service aspects given its experience and resources.

This announcement comes a few weeks after BigPay announced its application for a digital banking licence from Bank Negara Malaysia.

4.5 2 votes
Article Rating


Comments (0)

Notify of

Inline Feedbacks
View all comments
Top Apps Articles
Post Image
Astro 4K Ultra HD Broadcast To Be Available For Subscription By The End of This Year
Brian Chung
- 14th August 2018
By the end of 2018, Astro customers will be able to watch football matches in Ultra HD. Read on to know more about the 4k Ultra HD service.
Post Image
Shopee Introduces SPayLater, Lets Users Buy Items Now And Pay Later
Alex Cheong Pui Yin
- 18th January 2021
Shopee has introduced a new payment feature that lets its Malaysian users purchase items and pay for them […]
Post Image
How To Pay TNB Bills With Boost, GrabPay, And Touch ‘n Go eWallet
Pang Tun Yau
- 13th February 2020
In recent months, e-wallets (and even Shopee and Lazada) began offering bill payment options, which means Malaysians can […]
Post Image
TNG eWallet Users Can Now Transfer Money To Bank Accounts Via DuitNow Transfer
Alex Cheong Pui Yin
- 25th March 2022
Touch ‘n Go (TNG) eWallet has updated its DuitNow Transfer function, enabling users to also transfer funds out […]

Related articles

Related Posts Image
Related Posts Image
Related Posts Image
Related Posts Image