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FT Partners Advises BigPay on its up to $100,000,000 Series A Financing Led by SK Group

Overview of Transaction

  • On August 6, 2021, BigPay announced that it raised up to $100 million in Series A financing led by SK Group to further its mission to become the leading neobank in Southeast Asia
  • 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
  • BigPay is in the midst of launching fully digital personal loans, transactional lending, wealth and saving products, along with an offering for mSMEs and freelancers
  • The announcement comes a few weeks after BigPay announced its application for a digital banking license where it reiterated the commitment to build a connected financial future for Malaysian consumers and entrepreneurs

Significance of Transaction

  • The funding will fuel BigPay’s ambition to expand its financial product offerings to provide fair financial services to communities across Southeast Asia
  • The transaction represents the largest Series A fundraise ever for a neobank in Southeast Asia

FT Partners' Role

  • FT Partners served as exclusive financial and strategic advisor to BigPay
  • This transaction underscores FT Partners' deep Digital Banking domain expertise and successful track record of generating favorable outcomes for leading companies globally