AirAsia's BigPay secures $100m from South Korean conglomerate | Asian Business Review
101 views

AirAsia's BigPay secures $100m from South Korean conglomerate

The funding is just one step closer to BigPay’s ambition to be the largest challenger bank in SEA.

AirAsia’s fintech arm, BigPay, has secured $100m in financing from South Korea’s third-largest conglomerate, SK Group.

In a press release, AirAsia said this is the first time any portfolio company within AirAsia Digital has secured financing of this size.

According to BigPay CEO and Co-founder Salim Dhanani, this is a step towards the company’s goal to become one of the largest challenger banks in Southeast Asia.

“Our ambition has always been to establish BigPay as one of the largest challenger banks in Southeast Asia. Closing this financing round gives us the ability to build out our offerings, accelerate product development and scale. We are thrilled to have SK Group with us on this journey,” Dhanani said.

BigPay already has a presence in Malaysia and has set its eyes on Thailand the wider Asean next but is planning to launch more key products such as fully digital personal loans and transactional loans before expansion.

Founded in 2017, BigPay is present in both Malaysia and Singapore. Its current offering includes a prepaid debit card which can be used to spend anywhere Visa or Mastercard is accepted, local and international money transfers, micro-insurance, bill payments, and a budgeting tool. 

Follow the links for more news on

Join Asian Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

5G service expansion to drive APAC mobile services market
Growing 5G availability in the region will increase the market’s revenue to $479b
Globe sheds strategic shift from telco giant to tech innovator
The Philippines’ widening healthcare gap and poor sustainability initiatives open Globe CEO Ernest L. Cu’s eyes to an opportunity.

Exclusives

OCBC Indonesia undergoes rebranding, logo change for a unified financial future
The emblematic change carries OCBC Group’s ‘One Brand, One Group Unity’ strategy across markets in Singapore, Malaysia, Hong Kong, Macau, and mainland China.
Indosat Ooredo Hutchison sees 5G network supporting Indonesia’s Smart Cities
The telecommunications operator employs IoT-based technology solutions that can be used to monitor city conditions in real-time.
Globe sheds strategic shift from telco giant to tech innovator
The Philippines’ widening healthcare gap and poor sustainability initiatives open Globe CEO Ernest L. Cu’s eyes to an opportunity.
Bank DBS Indonesia avails fast, reliable and sustainable corporate banking
Its ESG-based bank financing, as reflected in sales and asset under management, proves to be an IDR1.8t (US$117m) success.