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Axiata Digital secures RM299.36m strategic investment to spur DFS | Malay Mail

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KUALA LUMPUR, June 25 — Axiata Group Bhd’s digital arm service Axiata Digital Services Sdn Bhd has secured a strategic investment of US$70 million (RM299.36 million) from Great Eastern Holdings Ltd to spur its fast-growing digital financial services (DFS) across the region. With the...

Thursday, 25 Jun 2020 05:47 PM MYT

“Over the past two years, we have been sharpening our focus on building and enhancing our digital financing services brand using digital technologies and our telco assets to serve the underserved,” Axiata Digital chief executive officer Mohd Khairil Abdullah told reporters here today. In 2018, Sumitomo placed an investment of US$20 million in Axiata Digital’s digital advertising business ADA and in 2019, Mitsui channeled an investment of up to US$50 million into the company.

Proceeds from the investment will fund expansion plans for Axiata Digital’s DFS business for the next year in Malaysia and the region, which includes securing Boost’s next level push to develop its ecosystem of merchants and customers in enhancing Aspirasi’s credit scoring technology and potentially housing the digital bank.

 

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