Singapore: SoftPay Mobile acquires Vietnam’s MPOS Technology

Singapore-based mobile point of sale provider SoftPay Mobile International has entered into a definitive agreement to buy a majority stake in MPOS Technology JSC, a similar company based out of Vietnam.

Both companies did not disclose the investment amount and number of shares transferred from MPOS Technology to SoftPay Mobile International.

“We have studied this company for several months,” said Christopher Low, CEO of SoftPay Mobile, adding that MPOS Technology is “a great fit with SoftPay Mobile.”

He continued, “(MPOS Technology) comprises of an excellent team with numerous customers using mPOS. With this investment, SoftPay Mobile will be able to work closely with our new Vietnam MPOS company to further consolidate our market position as the leading MPOS company in Southeast Asia.”

According to a report, MPOS Technology clients include Mai Linh Taxi Group, Lazada Vietnam, and insurance firms.

As for SoftPay Mobile, while it is based out of Singapore, it has already secured clients locally and in Vietnam, Malaysia and Indonesia like Cafe MY, PTI Insurance, and Oromia Cafe. In October 2015, the company announced raising $1 million in a Series A round led by Life.SREDA, a fintech-focused venture capital firm.

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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.