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.

About Cooley LLP

Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law.

Cooley has 1,300 lawyers across 17 offices in the United States, Asia and Europe.

This content is provided for general informational purposes only, and your access or use of the content does not create an attorney-client relationship between you or your organization and Cooley LLP, Cooley (UK) LLP, or any other affiliated practice or entity (collectively referred to as “Cooley”). By accessing this content, you agree that the information provided does not constitute legal or other professional advice. This content is not a substitute for obtaining legal advice from a qualified attorney licensed in your jurisdiction and you should not act or refrain from acting based on this content. This content may be changed without notice. It is not guaranteed to be complete, correct or up to date, and it may not reflect the most current legal developments. Prior results do not guarantee a similar outcome. Do not send any confidential information to Cooley, as we do not have any duty to keep any information you provide to us confidential. This content may be considered Attorney Advertising and is subject to our legal notices.