ASEAN Fintech Company BigPay Secures up to $100 Million in Financing

Singapore – August 18, 2021 – Cooley advised BigPay, a leading challenger bank focused on the Association of Southeast Asian Nations, on its financing of up to $100 million from energy and telecom conglomerate SK Group. Partner Matthew Bartus led the Cooley team advising BigPay.

The new capital will strengthen BigPay as it accelerates product development across a range of financial services, from payments to credit and solutions for businesses. The company also has applied for a digital banking license in Malaysia, reiterating its commitment to build a connected financial future for Malaysian consumers and entrepreneurs.

“Our ethos has always been clear. We want to launch financial products that are not only simple and convenient but transparent and accessible to everyone,” Salim Dhanani, chief executive officer of BigPay, said in a news release. “We are ready to embark on the next stage of our journey with SK Group and we will continue to provide fair financial services to communities across Southeast Asia.”

Launched in 2017, BigPay is one of the top fintech companies in Southeast Asia, and has successfully added regulated financial products to its offerings – ranging from electronic money and international money transfers to microinsurance and budgeting tools – with the goal of being a one-stop solution for its customers’ financial needs. The company’s mission is to democratize financial services for Southeast Asian consumers and entrepreneurs.

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Related Contacts
Matthew Bartus  Partner San Francisco, Singapore, Palo Alto
Ryan Grimm   Associate Seattle, Singapore
Xinwei Li  Associate Singapore