Malaysia-based TNG Digital secures over $168 million in funding

Oluwajuwonlo Afolabi -

TNG Digital, a Malaysia-based fintech startup operating Touch 'n Go eWallet, has raised $168.3 million in its new funding round led by Lazada Group with participation from Touch 'n Go, its parent company.

  • The investment signifies the collaboration between key segment leaders in e-commerce and payment services, the startup claims.
  • TNG Digital was founded by Touch 'n Go and Alibaba's Ant Group, the parent company of China-based Alipay.
  • The startup last raised $75 million in funding from AIA and Bow Wave Capital Management.
  • It has raised over $224 million in the last 18 months.