BigPay announces leadership transition as Capital A commits to sustain growth in fintech business
BigPay, a Capital A venture capital and fintech firm based in Malaysia, has announced the appointment of Zubin Rada Krishnan as its acting CEO.
Zubin was the Malaysia country head of BigPay for the past year, succeeding Salim Dhanani who stepped down in February to pursue a new opportunity outside of BigPay, Capital A said in a statement last Friday.
“Zubin takes the helm of this great company at a time of strong, sustained performance, and we are confident that he will continue to enhance BigPay’s mission to provide Southeast Asians with the financial services they need to enhance their lives, one transaction at a time,
“We are excited about BigPay’s next step as we seek to strengthen our ties with AirAsia guests to provide a seamless travel payment experience within the Capital A ecosystem,” said Colin Currie, President, CEO of airasia Digital.
In the meantime, Zubin said he will leverage my nearly 20 years of experience across financial services and capital markets to better provide BigPay customers with the accessible and supportive products they need to live better lives.
“With increased focus on our customers and deeper collaboration with airasia Superapp, I am confident of achieving greater growth for BigPay, which saw 56 percent year-on-year growth in revenue and a 43 percent improvement in gross profit margins,
“We have a fantastic, talented team behind the business, instrumental in deepening and expanding our footprint in Malaysia and across Asean, with a planned launch in Thailand later this year, followed by Indonesia and the Philippines,” he said.
Before joining BigPay, Zubin was a partner with the Boston Consulting Group for over six years, where he focused on financial services, including: designing digital banks in Singapore and Malaysia; large-scale banking operating model transformations; and building and launching innovative digital products.
He also co-founded Tuas Capital Partners, a private equity fund.
Previously, he played a strategy role at Hong Leong Bank where he helped set up a new subsidiary in Vietnam, and supported Malaysia’s last major retail banking merger.
He began his career in KPMG Business Advisory, supporting financial institutions across financial risk and strategy.
Zubin holds a Bachelor of Arts in Philosophy, Politics and Economics from the University of Oxford.
Founded in 2017, BigPay is a company that offers financial services from payments to international transfers, credit, microinsurance, personal loans and smart budgeting.
The firm currently has 1.3 million transaction and card users, representing nearly 50 percent year-on-year growth.
In 2022, BigPay launched various regulated financial products and services in Malaysia, such as BigPay Personal Loans, DuitNow QR and DuitNow transfer.
Most recently, BigPay has also reached MYR1 billion ($220 million) in gross transaction value (GTV) on its international remittance function.
Capital A is an investment holding company with a portfolio of synergistic travel and lifestyle businesses that leverage data and technology.
As the new corporate identity of the erstwhile AirAsia Group Berhad, Capital A has transformed from an airline to a digital travel and lifestyle brand, consisting of key verticals – aviation (Airlines), aviation services (ADE, Santan, GTR), airasia Superapp (airasia food , airasia ride among others), and ventures (AirAsia Academy, RedBeat Capital among others), as well as the logistics venture Teleport and the fintech portfolio company, BigPay.
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