Capital A reportedly looking to sell fintech arm BigPay

by

Teddy Cambosa

-

6 months ago

Capital A reportedly looking to sell fintech arm BigPay

The ‘What’s NEXT in Marketing 2025’ series is making waves in Singapore, the Philippines, Hong Kong, Indonesia, and Malaysia. Join us in shaping the future of marketing!

Kuala Lumpur, Malaysia – Capital A is reportedly looking to sell BigPay, its fintech arm to an undisclosed regional bank, according to Capital A CEO Tony Fernandes.

“It’s a good product, it just hasn’t had enough capital. So we’ve decided to sell the majority of Big Pay to a very big regional bank — we’re in negotiations. It’s not just the regional bank, there are some big regional fintech players and global players that are looking at it,” according to Fernandes during an exclusive webinar earlier this week hosted by Rakuten Trade.

It is worth noting that Fernandes already laid out plans for BigPay in a previous interview with The Edge Malaysia, where he said that they were seeking a partner to take a stake in and lead BigPay amidst ‘tough’ management issues.

“Really, we need a partner [for Big Pay]. We’ve built a great programme. We’re going to be looking for a major partner to take this [forward]. We want to keep a stake in it, but it’s not something we are going to drive going forward,” he stated.

It was previously reported that BigPay saw a mass exodus of C-suite leaders earlier this year, including chief executive officer Zubin Rada Krishnan, chief operating officer Mitherpal Sidhu, chief growth and commercial officer Chris Manguera, and chief of staff and head of strategy Meirisha Berisdha.

In its financial report for the third quarter of 2024, Capital A highlighted that BigPay generated RM8.7 million in revenue. Additionally, its EBITDA loss decreased by 2% year-over-year to RM21.7 million, primarily due to reductions in staff costs. The report also noted that the recent introduction of BigPay Lite contributed significantly to user growth, with 44% of new users in Q3 2024 joining through this channel.

Step into a world where creativity meets cutting-edge tech at MARKETECH APAC’s Advertising Technology Asia 2025! Coming to the Philippines on 9 September, be at the forefront of the adtech revolution—register now!
The NEXT Awards 2025 is here, and we’re seeking the most innovative marketing campaigns from Indonesiathe Philippines, Malaysia, Singapore and Asia Pacific. Submit your entry today and showcase your best work!
Share

RECENT ARTICLES

Cohesity names Greg Statton as chief technology officer for Asia Pacific and Japan operations
Telekom Malaysia, Scicom enhances AI-driven customer experience in Malaysia
Gill Capital introduces AI-powered retail search in Southeast Asia
Exclusive Networks names Bennett Wong as senior vice president for APAC to lead regional growth
Aduna, Maxis expand network API ecosystem in Malaysia
Ellipse 3

RELATED ARTICLES

Cohesity names Greg Statton as chief technology officer for Asia Pacific and Japan operations
Telekom Malaysia Berhad, Scicom enhances AI-driven customer experience in Malaysia
Gill Capital introduces AI-powered retail search in Southeast Asia
Ellipse 3

FEATURED ARTICLES

Cohesity names Greg Statton as chief technology officer for Asia Pacific and Japan operations
Telekom Malaysia Berhad, Scicom enhances AI-driven customer experience in Malaysia
Gill Capital introduces AI-powered retail search in Southeast Asia

Subscribe to UpTech Media Newsletter

Video Title Here: The Indonesian on-ground activation status

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos.

Video Title Here: The Indonesian on-ground activation status

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos.

Video Title Here: The Indonesian on-ground activation status

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos.