Company Profile: Digiasia Bios

Background

Overview

Founded in November 2017 in Jakarta, Digiasia Bios is Indonesia's pioneering Embedded Fintech-as-a-Service (EFaaS) provider. The company is dedicated to facilitating financial transactions across diverse customer segments by offering a suite of integrated financial services. Its mission is to support partners in their digital financial transformation by providing cost-effective, mass-market financial products. Digiasia Bios operates under four key licenses:

• KasPro: Digital Payment

• KreditPro: Peer-to-Peer (P2P) Lending

• RemitPro: Remittances

• DigiBos: Digital Financial Services

These services are designed to be seamlessly embedded into various applications and ecosystems, enabling partners and the general public to optimize financial management processes in both business and daily life.

Key Strategic Focus

Strategic Objectives

Digiasia Bios aims to accelerate financial inclusion in Indonesia by integrating advanced financial services into partner platforms. The company's strategy involves acquiring and consolidating digital, traditional distribution, and logistics ecosystems through low-cost payment rails using an embedded finance approach.

Areas of Specialization

The company specializes in providing a range of financial services, including:

• Digital Wallets: Closed and open-loop wallets

• QR Payments: QRIS Payment as a Service

• Cash Management: AI-driven cash management systems

• Digital Products & Billers: Integration of digital products and billers

• Remittances: Cash-based and digital remittances

• B2B Loans: P2P lending and corporate cards

• Gold Savings: Gold saving products

• Virtual Card Numbers: Digital invoice generation for internet transactions

• Buy Now Pay Later (BNPL): BNPL payment modules

• e-KYC: Electronic Know Your Customer services

• Cash In & Cash Out: Merchant-operated ATM/branch banking functionality

These services are offered through open-access APIs, allowing partners to embed them into their mobile apps and web interfaces efficiently.

Key Technologies Utilized

Digiasia Bios leverages artificial intelligence (AI) to enhance its service offerings. In June 2024, the company secured an initial allocation of 5,120 NVIDIA H200 GPUs to develop advanced AI solutions for enterprise customers in fintech, telecom, and government sectors. This initiative aims to deploy AI-powered solutions such as anti-money laundering (AML), fraud detection, Know Your Customer (KYC), smart dealer lending, branchless banking, automated customer journeys, and deep encryption of financial data.

Primary Markets Targeted

The company's primary focus is on the Indonesian market, aiming to address the high percentage of unbanked and underbanked populations. By embedding financial services into partner platforms, Digiasia Bios seeks to enhance financial inclusion and support the digital transformation of businesses across various sectors, including financial services, technology, retail, telecom, transport, and food and beverage.

Financials and Funding

Funding History

In April 2024, Digiasia Bios completed a business combination with StoneBridge Acquisition Corporation, a publicly-traded special purpose acquisition company. The combined entity now operates under the name DigiAsia Corp. and is listed on the Nasdaq under the symbols "FAAS" and "FAASW."

Recent Funding Rounds

In June 2024, DigiAsia Corp. secured an initial allocation of 5,120 NVIDIA H200 GPUs, valued at over $400 million, with an option for an additional 10,240 GPUs. This investment is intended to develop and deploy advanced AI solutions for enterprise customers in fintech, telecom, and government sectors.

Notable Investors

The business combination with StoneBridge Acquisition Corporation brought in investors from the special purpose acquisition company (SPAC) community. Additionally, the partnership with NVIDIA signifies a strategic investment in AI capabilities.

Utilization of Capital

The capital raised is being utilized to enhance Digiasia Bios's technological infrastructure, particularly in developing AI-driven financial solutions. The company plans to deploy these solutions by the fourth quarter of 2024, aiming to tap into an estimated $200-300 billion annual global market in financial services.

Pipeline Development

Key Pipeline Candidates

Digiasia Bios is developing AI-powered solutions under the initiative named ANDITA (Artificial Neurolinguistic Data Intelligence for Transaction Analytics). This project focuses on integrating AI technology into existing embedded finance solutions to streamline loan approval processes and enhance financial inclusion for micro, small, and medium enterprises (MSMEs) in Indonesia.

Stages of Development

ANDITA is expected to launch in the second half of 2024. The company is also working on deploying NVIDIA-powered AI solutions by the fourth quarter of 2024.

Target Conditions

The primary focus is on enhancing financial services for MSMEs, addressing challenges such as loan approval processes, cash management, resource planning, and working capital utilization.

Timelines for Milestones

• Q2 2024: