Thailand: InVent backs Digio’s Series A round in first fintech investment

Image from Digio

InVent, the venture capital arm of Intouch Holdings Pcl, has invested an undisclosed amount in the Series A round of Bangkok-based e-wallet technology startup Digio (Thailand) Co. Ltd.

Digio and Intouch aim to tap into the rapidly growing e-payment market in Thailand and rest of Southeast Asia.

Providing turnkey payment solutions including card-based payment and e-wallet for financial institution, Digio is known as the pioneer of mobile point-of-sale (mPOS) technology in Thailand.

The mPOS technology has enabled thousands of small merchants in Thailand to accept electronic card payment. It is also in line with the National e-Payment policy of the Thai government to increase the use of electronic payments and transform the country into a cashless society.

“I have foreseen that the electronic payment will be a major part of Thai’s economy in the near future so I decided to found Digio which was initially focused on card payment services. We were the first to bring mPOS technology to Thailand with a goal to enable SMEs to accept electronic card payment with acceptable fees,” Nopphorn Danchainam, founder and CEO of Digio, said.

Digio is the first fintech company in InVent’s portfolio and is the 11th company in the investor’s portfolio, Kim Siritaweechai, executive vice president of Portfolio Management and Head of InVent, said.

“Intouch always has an eye on payment business. Leading by mPAY, a mobile e-wallet company, we began supporting our customer’s need of mobile payment from many years ago. Digio will definitely help us strengthen our position in mobile payment and also in the world of financial technology,” Kim said.

InVent’s previous investments include international VR advertising company Social Nation, local business review portal Wongnai, golf course booking platform Golfdigg and mobile-first engagement solutions Playbasis.

Also read:

Thai restaurant review portal Wongnai closes Series B funding led by InVent

Singtel Innov8, InVent invest in Thai social commerce platform ShopSpot

Thailand: InVent invests in Valley VR firm Social Nation’s pre-series A round

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.