Lazada takes a stake in Touch ‘n Go eWallet

Touch ‘n Go group chief executive officer (CEO) Effendy Shahul Hamid said the collaboration with Lazada will bring next-level value propositions to users and merchant bases across the Lazada and Touch ‘n Go ecosystem.

PETALING JAYA: eCommerce player Lazada Group has emerged as an investor in Touch ‘n Go eWallet’s operator, TNG Digital Sdn Bhd, which in turn is majority-owned by CIMB Group Holdings Bhd and China’s Ant Group.

It was announced yesterday that TNG Digital has raised RM750mil from its latest equity funding round, led by a new investment by Lazada and a follow-on investment by Touch ‘n Go Sdn Bhd.