Fintech arm of AirAsia secures US$100mil from Korean SK Group
Digital wallet BigPay has raised US$100 million in financing from South Korean conglomerate SK Group. The fintech arm of AirAsia Digital will use the funds to support its digital banking expansion in Southeast Asia. This is the biggest funding that a portfolio company under AirAsia Digital has received to date.
Established in 2017, BigPay provides money transfer, microinsurance, bill payment, and budgeting services on top of offering a prepaid debit card that works with Visa- and Mastercard-compatible portals. The company currently has operations in Malaysia and Singapore, with the goal of setting foot in Thailand and then other Southeast Asian countries.