{"id":47656,"date":"2025-08-06T10:20:11","date_gmt":"2025-08-06T10:20:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/47656\/"},"modified":"2025-08-06T10:20:11","modified_gmt":"2025-08-06T10:20:11","slug":"tng-digital-emerges-as-malaysias-first-fintech-unicorn-mulls-ipo-plans","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/47656\/","title":{"rendered":"TNG Digital Emerges as Malaysia\u2019s First Fintech Unicorn, Mulls IPO Plans"},"content":{"rendered":"

Free Newsletter<\/p>\n

Get the hottest Fintech Malaysia News once a month in your Inbox<\/p>\n

TNG Digital<\/a>, the company behind Malaysia\u2019s widely used TNG eWallet app, has crossed a US$1 billion valuation, making it the country\u2019s newest fintech unicorn.<\/p>\n

The milestone was confirmed by shareholder CIMB Group Holdings, according to Bloomberg.<\/a><\/p>\n

Gurdip Singh Sidhu, Country Head of CIMB Bank Malaysia, said the company meets the benchmark for unicorn status and that an initial public offering is being considered.<\/p>\n

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However, he added that there is no urgency to proceed, and any listing will be carefully timed.<\/p>\n

TNG Digital is about 45 percent owned by Touch \u2019n Go Sdn Bhd, a subsidiary of CIMB.<\/p>\n

The company turned profitable last year and continues to expand under the group\u2019s digital business portfolio.<\/p>\n

Founded in 2017 as a joint venture between Touch \u2019n Go and Ant Financial, TNG Digital raised RM750 million<\/a> in 2022 from investors including Lazada, AIA, and Ant Financial.<\/p>\n

Today, the platform serves more than 20 million verified users and supports payments for over two million merchants across Malaysia.<\/p>\n

The achievement aligns with Malaysia\u2019s broader goal of nurturing at least five unicorns by 2030, an ambition reiterated by Second Finance Minister Amir Hamzah Azizan at a recent fintech conference in Kuala Lumpur.<\/p>\n

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Featured image: Edited by Fintech News Malaysia, based on images by wichayada<\/a> and shahriar4#<\/a> via Freepik<\/p>\n","protected":false},"excerpt":{"rendered":"Free Newsletter Get the hottest Fintech Malaysia News once a month in your Inbox TNG Digital, the company…\n","protected":false},"author":2,"featured_media":47657,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[2306,86,56,54,55],"class_list":["post-47656","post","type-post","status-publish","format-standard","has-post-thumbnail","category-mobile","tag-mobile","tag-technology","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/47656","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=47656"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/47656\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/47657"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=47656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=47656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=47656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}