Thailand based payment gateway Omise has raised $2.6 million in Series A funding round led by Indonesia-based venture capital firm SMDV with participation from East Ventures, 500 Tuk Tuks and Thai Telco True Group.
Omise, co-founded by Jun Hasegawa and Ezra Don Harinsut in June 2013, has attempted to create an efficient payment method in response to the growth of e-commerce across Asia.
The easy-to-integrate payment gateway enables e-commerce merchants to accept payments on any platform for 24 hours.
Omise will use the funding proceeds to launch its products soon in Southeast Asia and Japan – where the online market is expected to touch $600 billion by 2020.
“This is a totally new chapter for us. Partnering with well established brands both in Thailand and other SEA countries is a game-changer for Omise to expand into the region,” says Harinsut.
Due to the different regulations and user behaviours in each country, Omise has teamed up with several local partners who will add diverse payment methods to the Omise products, covering a wide range of merchants, from startups to airlines.
“We want to help Southeast Asia quit using cash and move on to be a cashless society,” Hasegawa told TechCrunch, adding that it will come up with a “big plan” for Indonesia soon.
Omise has raised an earlier round of $300,000 from East Ventures in 2014. Including the latest round, it has so far raised total funding of $2.9 million.