SIGNING OF CO-INVESTMENT AGREEMENT BETWEEN VENTURETECH, VENTURETECH SBI AND BAYO PAY 2 JUNE VentureTECH, Cyberjaya
The RM10 million investment is strategically allocated to fuel Bayo Pay’s expansion initiatives, including onboarding new clients, promoting ancillary services, and ensuring robust operational capabilities. This strategic investment aligns with VentureTECH’s mission to empower and nurture local Fintech talents and underscores its commitment to an impact investment philosophy. The investment aims to contribute positively to socioeconomic development in alignment with Malaysia’s vision of embracing Industry 4.0 for equitable, inclusive, and sustainable growth. The co-investment agreement was signed by Mr Ahmad Redzuan Sidek, Chief Executive Officer of VentureTECH, Mr Mohd Jerry Tan, Principal of VentureTECH SBI, and Mr Fardan Abdul Majeed, Managing Director of Bayo Pay.
VentureTECH SBI Sdn Bhd (VentureTECH SBI) and VentureTECH Sdn Bhd (VentureTECH) have collectively invested RM7 million and RM3 million in Bayo Pay (M) Sdn Bhd (Bayo Pay), a B2B2X white-label Digital Payment-as-a-Service solution provider in Malaysia. The purpose of this investment is to drive Bayo Pay’s core business growth and expand its suite of offerings, with a specific focus on supporting the growing local financial technology (Fintech) startup ecosystem. Bayo Pay provides integrated end-to-end payment solutions to SMEs with a growing and captive user base. The company’s B2B2X business model enables its clients to leverage proprietary technology for developing scalable private label payment solutions. This flexibility, accessible through white-label or application programming interface (API) integration, facilitates a streamlined entry for Fintech startups and corporates into the digital financial service sector.
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