Cambodia-based on-demand food delivery and logistics firm Meal Temple Group has acquired Laos-based MyDelivery, a unit of fintech firm Kiwi Group, according to an official release.
Under the acquisition, Meal Temple will continue MyDelivery’s operations without rebranding and plans to add more on-demand delivery and logistics services like grocery delivery in the country.
Meal Temple will also enter into an exclusive partnership with Kiwi Group and its fintech startup Kiwi Pay to use their services locally to handle online secured payments.
Meal Temple had last year raised a six-digit US dollar sum from private Australian and European investors. The capital raised was used to bankroll its purchase of MyDelivery, which supports over 200 restaurants in the Lao capital of Vientiane.
“We are really excited with this first acquisition, which is one of the pillars of our strategy to dominate the frontier markets of Asia and expand our skillset and technology regionally. The partnership with Kiwi Pay is also of great value as it will allow us to kickstart our logistics services in the country more rapidly,” said Maxime Rosburger, CEO and founder of Meal Temple Group.
Launched in 2013 as a food delivery platform, Meal Temple Group has expanded into 13 online platforms including GroceryDelivery.asi for grocery delivery, Driveme.la for booking tuktuks and taxis, Khmer Direct for buying products online from farmers and Khmer Table for restaurant booking.
Meal Temple claims to complete around 10,000 monthly trips in main cities like Phnom Penh and Siem Reap. With a team of 30, the group aims to expand rapidly in Cambodia and Laos.
“We can now fully focus on our fintech products in Laos, with AliPay, Wechat Pay, Google and Apple Pay, while leveraging on the experience that Meal Temple Group will provide to the extended growth of MyDelivery.la. This is a real strategic partnership to bring experts in each field for the untapped e-commerce potential in Laos,” said Gregory Schmidt, CEO and founder of Kiwi Group and Kiwi Pay.