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DigiAsia Corp, listed on the stock market under the symbol FAAS, operates as a diversified holding company. A pioneer in the embedded fintech-as-a-service (EFaaS) domain in Indonesia, DigiAsia primarily serves a broad spectrum of business-to-business (B2B) and business-to-business-to-consumer (B2B2C) customers. This includes large corporations, state-owned enterprises, as well as micro, small, and medium-sized enterprises (MSMEs) merchants.
DigiAsia's operations are carried out through its majority-owned entities, controlled entities, and corporate joint ventures. The company's mission is to become a leading fintech-enabling platform in Southeast Asia. It strives to advance financial inclusion by leveraging its extensive licenses and cutting-edge technology stack, which combines the best of technological innovation with traditional financial services.
Recent achievements highlight DigiAsia's commitment to enhancing financial inclusion and its role in integrating fintech solutions across various sectors. The company continues to drive growth and innovation through strategic partnerships and a deep focus on meeting the unique financial needs of its diverse client base.
As DigiAsia Corp continues to expand, its current projects and initiatives reflect a robust financial condition and a clear strategy to foster greater financial inclusion. Stakeholders can expect continued updates on its performance, events, and developments, ensuring transparency and engagement within the business community.
DigiAsia Corp. (NASDAQ: FAAS), a leading Fintech as a Service (FaaS) ecosystem provider, has announced a strategic collaboration with Digit9, a cross-border payments orchestration platform developed by LuLu Money Singapore. This partnership aims to enhance DigiAsia's cross-border payments offerings for Indonesian consumers and SMEs in Indonesia and the GCC.
Key benefits of the collaboration include:
- Access to Digit9's wide network of partners
- Ability to facilitate cross-border payments in over 150 markets globally
- Creation of efficient and cost-effective cross-border payment rails
DigiAsia estimates that this partnership will generate an annual volume of US$250 million in cross-border payments. Both companies plan to continue strategic discussions and launch innovative products and services in the cross-border payments space in the near future.
PayMate India has announced its intent to acquire DigiAsia Bios Pte , a subsidiary of DigiAsia (NASDAQ: FAAS), in a deal valuing DigiAsia at US $400 Million. This strategic move marks PayMate's entry into the Indonesian market, promising immediate market share expansion. The company plans to invest up to US $25 Million in cash post-acquisition, with the final financing structure to be mutually agreed upon.
The binding term sheet initiates a 60-day period for due diligence, structure finalization, and necessary approvals. Following the acquisition, PayMate aims to list the combined entity in India, targeting a 2025 public listing. This acquisition aligns with PayMate's growth strategy, leveraging DigiAsia's strong presence in the Fintech-as-a-Service (FaaS) sector in Indonesia.
DigiAsia Corp. (NASDAQ: FAAS), a leading Fintech as a Service ecosystem provider, has appointed Andreas Gregori to its AI strategic advisory board. Gregori, already a board member, brings over 15 years of global C-suite experience in technology and telecommunications. His expertise in leveraging AI and technology is expected to accelerate DigiAsia's integration of AI solutions into its Fintech offerings for enterprise clients in Indonesia and beyond.
Gregori's background includes serving as President of Axiom D Inc. and as Chief Marketing Officer and Chief Digital Officer of Indosat Ooredoo. He holds a Ph.D. in Computer Science and Artificial Intelligence from Technische Universitat Berlin. CEO Prashant Gokarn expressed confidence that Gregori's expertise will be instrumental in developing innovative AI fintech solutions that deliver significant value to clients and contribute to sustained economic growth.
DigiAsia Corp. (FAAS), a leading Fintech as a Service ecosystem provider, is set to present at the Q3 Virtual Investor Summit Microcap Forum on August 20, 2024. The presentation is scheduled for 9:30 am ET and will be accessible via webcast. DigiAsia's management will be available for one-on-one meetings throughout the day, offering investors an opportunity for in-depth discussions.
The event focuses on 50 micro-cap companies with catalysts and/or strong market performance. It provides a platform for investors to engage with promising micro-cap businesses. The forum is complimentary for qualified investors, who can register online to participate in live Q&A sessions and gain valuable insights into potential investment opportunities.
DigiAsia Corp. (NASDAQ: FAAS) and PT Jalin Pembayaran Nusantara have announced a strategic collaboration to advance financial inclusion in Indonesia. The partnership leverages Jalin's network of over 52,000 ATMs with DigiAsia's Embedded Fintech as a Service Platform to deliver innovative financial solutions. Key components of the collaboration include:
- Cardless Cash Withdrawal (CCW)
- Cash Deposit Machine (CDM) expansion
- White label ATM solutions
- Merchant Kiosk deployment
This partnership aims to strengthen financial accessibility and empower consumers and merchants across Indonesia, including DigiAsia's network of 1 million merchants. The collaboration is expected to drive commerce and enterprise business growth through widespread digitized finance.
DigiAsia Corp. (NASDAQ: FAAS), a leading Fintech as a Service ecosystem provider, has formed an AI-focused strategic advisory board and appointed Gulzar Azad as its first strategic advisor. Azad, currently serving in an advisory role for Health AI and population-scale projects at Google UK, brings extensive experience in technology leadership and entrepreneurship.
The advisory board aims to guide DigiAsia's rapid introduction of AI technology and capabilities to provide efficiency to enterprise clients in Indonesia at scale. Azad's expertise aligns with DigiAsia's goals to expand AI capabilities across their SME ecosystem and make AI more accessible to drive economic growth in Indonesia.
CEO Prashant Gokarn expressed enthusiasm about Azad's appointment, highlighting the value of his insights for DigiAsia's innovation and growth in AI. Azad's experience in advancing technology equity and creating distributed architectures is expected to complement DigiAsia's mission to drive commerce growth across Indonesia and Southeast Asia.
DigiAsia Corp. (NASDAQ: FAAS), a leading Fintech as a Service ecosystem provider, has reported significant growth in key performance indicators for the full year 2023. The company achieved 7.85 billion transactions, marking a 74% year-over-year increase from 4.5 billion in 2022. Gross transaction value reached $3.625 billion, up from $2.1 billion in 2022. DigiAsia's merchant base expanded to 1 million, a 31.5% growth from 760,100 at the end of 2022. The company also saw a 40% increase in Enterprise Payment and Banking Partners on its platform compared to 48 customers in 2022. Notably, DigiAsia has moved into operational profitability, indicating improved financial performance.
DigiAsia Corp. (NASDAQ: FAAS) announced the completion of a convertible note financing with Helena Partners, resulting in net proceeds of $3.0 million. The company issued $5.2 million in Senior Unsecured Convertible Notes to extinguish all inherited debt from its business combination with StoneBridge Acquisition The Notes bear a 12% annual interest rate, payable quarterly, and mature in one year. Helena has the option to convert the principal and accrued interest into DigiAsia common stock. The remaining funds will be used for general corporate purposes and growth capital investment.
DIGIASIA Corp has secured 5,120 of NVIDIA's H200 GPUs, advancing their AI solutions for the fintech, telecom, and government sectors. This initial tranche, valued over $400 million, will enhance DIGIASIA's infrastructure, enabling advanced solutions like AML, fraud detection, KYC, and branchless banking. Operations will be based in the Dubai International Financial Center, with deployments starting in Q4 2024. The project aims to tap into a USD 200-300 billion annual market opportunity in financial services, initially focusing on Southeast Asia, India, and the Middle East, with plans for global expansion. The initiative is expected to significantly boost DIGIASIA's top and bottom lines from Q4 2024.
DigiAsia Corp. (NASDAQ: FAAS) has entered into a definitive Securities Purchase Agreement (SPA) with Helena Special Opportunities to secure over $3 million in funding through Senior Unsecured Convertible Notes. These notes can be converted into Class A common shares and bear an annual interest of 12%, payable quarterly, maturing in one year. Additionally, DigiAsia incorporates $5.2 million of Class B Convertible Notes from debt inherited via its recent merger with StoneBridge Acquisition The proceeds will be used to repay existing debt and for general corporate purposes, including growth capital investment. The CEO, Prashant Gokarn, expressed optimism about the funding, emphasizing its importance in executing the company's long-term growth strategy. EF Hutton acted as the exclusive placement agent, and Winston & Strawn LLP served as the legal advisor for the transaction.
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