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.