Thailand: Omise acquires DTAC’s e-money service provider Paysbuy

Omise and Paysbuy Team

Omise, a Bangkok-based online payment platform with a focus on Southeast Asia, on Thursday announced that it has entered into an agreement to acquire Paysbuy, a Thai e-money service provider, from Total Access Communications Pcl (DTAC) for an undisclosed sum.

Upon the completion of the acquisition, Paysbuy’s assets and services will be merged into Omise.

Omise expects this merger to help accelerate growth in Southeast Asian markets by accessing thousands of online merchants in its taget industries across Thailand and Myanmar.

In addition, this move will also pave the way for Omise’s innovations including OmiseGO (OMG) wallet by adopting the e-wallet service from Paysbuy and building a decentralized solution.

“This transaction is a positive outcome for both merchants and the economy. It would enable us to accelerate the implementation of our strategy across both Omise and OmiseGO’s products and services,” said Jun Hasegawa, CEO and founder of Omise.

“We’ve been continuously innovating and re-investing ourselves and this would enable us to grow our platform and build strong products more rapidly to help the payment ecosystem in Southeast Asia.”

Omise has completed the fundraising of $25 million through its first sales of OMG token yesterday, according to Techcrunch’s report.

The proceeds from the issuance of OMG token is close to the funding it received in the previous rounds, which include a $2.6 million series A in 2015, undisclosed round from Golden Gate Ventures and a $17.5-million series B led by SBI Investment last July.

Also read:

Thailand’s Omise raises $2.6m Series A funding to expand across Southeast Asia

Thai online payment startup Omise raises third round of financing from Golden Gate Ventures

Thailand’s Omise gets $17.5m Series B for Southeast Asia expansion

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.