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Malaysia's CIMB fintech business has raised US$75 million this year

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KUALA LUMPUR : The fintech business of Malaysia's CIMB Group Holdings Bhd has raised a total of US$75 million in investments this year, including bringing in AIA Group as a fourth shareholder, the banking group's chief executive said on Monday.Insurer AIA said last month it was forming a long-term partner

KUALA LUMPUR : The fintech business of Malaysia's CIMB Group Holdings Bhd has raised a total of US$75 million in investments this year, including bringing in AIA Group as a fourth shareholder, the banking group's chief executive said on Monday.

TNG Digital was jointly founded by CIMB's wholly-owned subsidiary Touch 'n Go and China's Ant Group. It has over 16 million e-wallet users, its website says. The bank said earlier this year it had secured about 200 million ringgit from a U.S.-based private equity firm later confirmed as Bow Wave Capital Management.

 

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