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

Omise co-founder/COO Ezra Don Harinsut and founder/CEO Jun Hasegawa

Japanese venture capital firm SBI Investment has led a $17.5-million Series B round in Thailand’s online payment enabler Omise, which marks one of the largest Series B investments for a fintech company in Southeast Asia to date.

The company said that Sinar Mas Digital Ventures, Ascend Money and Golden Gate Ventures also participated in this round.

With this round, Omise has raised more than $25 million to date including an undisclosed funding round from Golden Gate Ventures in October, a $2.6 million Series A in May 2015, and a seed funding of $300,000 in August 2014.

Much of the financing will be directed towards expanding its operations across Southeast Asian markets and to accelerate product development.

Omise – founded by Jun Hasegawa and Donnie Harinsut in 2013 – launched its operations in Thailand and Japan with over 1,000 customers including large corporate firms like TRUE Corp, Nok Air and Minor International.

It currently has offices in Indonesia and Singapore and expects to offer its services there by the end of this year. It also plans to expand into Malaysia, Vietnam, Myanmar, Laos and Cambodia in the next leg.

“The advent of online commerce has significantly broken down trade frontiers, making it easier than ever for any business to expand beyond their home country, and payments is a key driver of that opportunity.” said Jun Hasegawa, CEO of Omise.

With this funding round, June Seah and Michael Bradley join the firm’s advisory board, both of whom served Visa Asia Pacific and CyberSource respectively. Bradley will also serve as chief commercial officer together with Sanjeev Kumar who joins as chief product officer and Luke Cheng, most recently leading Groupon’s APAC region, serves as chief financial officer. Kumar recently led merchant solutions & strategy for Visa CyberSource in Asia Pacific.

Also read:

Golden Gate Ventures closes $60m early stage fund, to double down on SEA

Golden Gate Ventures, Wavemaker Partners most prolific investors in SE 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.

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.