Indonesian fintech DigiAsia Bios looks abroad after SPAC merger

JAKARTA -- Indonesian financial technology startup DigiAsia Bios is gearing up to expand to other Southeast Asian countries with similar demographics and regulations, including Vietnam, Cambodia and the Philippines, after its combination with a special purpose acquisition company (SPAC) and Nasdaq listing this year, a senior executive said.

In an interaction with DealStreetAsia, DigiAsia founder Alexander Rusli said the business-to-business (B2B) company plans to complete its combination with StoneBridge Acquisition Corporation, a publicly traded special purpose acquisition company, this April and raise around $200 million. The money will allow DigiAsia to grow inorganically.