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