DigiAsia

About DigiAsia

Established in Jakarta in November 2017 by co-founders Alexander Rusli and Prashant Gokarn, DigiAsia operates as a holding company for a portfolio of fintech services aimed at enhancing financial inclusion in Indonesia. The founders, both with previous experience at Indosat Ooredoo, have guided the company's focus towards a B2B2C (Business-to-Business-to-Consumer) model since late 2018. This strategic pivot allows DigiAsia to function as an enabler for its business partners, providing the technological backbone for them to offer financial services directly to their customers.

The company's core offering is a Fintech-as-a-Service (FaaS) platform, providing embeddable, AI-powered financial solutions through open access APIs. This allows business clients to integrate services such as digital payments, P2P lending, and remittances into their own applications and ecosystems without the need for extensive capital investment or development time. DigiAsia's revenue is generated through this FaaS model, with a focus on retaining existing clients and expanding its customer base. The company serves a diverse client portfolio, including banks, non-banks, and corporations in sectors like transportation and retail, aiming to digitize their operations and customer base. Key partners include major players like Mastercard, Western Union, and Starbucks.

DigiAsia's product suite operates through several affiliated entities, each holding the necessary licenses for their specific domain. KasPro offers an e-wallet and mobile payment gateway for bill payments and money transfers. KreditPro provides a P2P lending platform focused on working capital loans and invoice financing for micro, small, and medium-sized enterprises (MSMEs). RemitPro facilitates cross-border money transfers. In April 2024, DigiAsia completed a business combination with StoneBridge Acquisition Corporation, becoming a publicly traded company on Nasdaq under the ticker symbol 'FAAS'. For the first half of 2024, the company reported revenues of $51.1 million, a 45% increase from the same period in 2023, while significantly reducing its net loss by 59%.