Thailand payment services provider gets Series A round

Japanese Southeast Asia-focused investor East Ventures, Thai mobile network operator True, and 500 Tuktuks - 500Startups' Thailand satellite fund - also took part.

Omise was launched in 2013 by Jun Hasegawa and Ezra Don Harinsut. The start-up began as an e-commerce platform but then pivoted after deciding to focus on the payment gateway it had built. The product now offers a set of application programming interfaces (APIs), that allow third-party merchants to accept payments online using Omise’s platform.

Omise charges 3.65% on all transactions, and a further THB30 ($0.90) for withdrawals of up to THB2 million. It claims to serve both small start-ups and larger corporate clients, and currently employs around 20 people. Prior to this round the company raised $300,000 from East Ventures in June 2013. The business plans to use this latest investment to expand into CEO Hasegawa’s native Japan.

Last week another Southeast Asian payments solutions provider, 2C2P, raised $7 million in Series C round from Amun Capital and GMO Venture Partners. Like Omise, 2C2P is also targeting growth through cross-border expansion. It already claims to be the market leader in Thailand, but also has seven other offices across the region.

Other VC deals in Southeast Asia’s payments space include: Philippines-based Ayannah, which raised $1.8 million from Golden Gate Ventures, Gree Ventures, and several others in October; and Indonesia’s Coda Payments, which raised $2.3 million in Series A funding from Golden Gate, GMO Global Payment Fund, Rakuten Ventures, and CyberAgent Ventures, in 2013.

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• Topics
• Financials
• Technology
• Early-stage
• Venture
• North Asia
• Southeast Asia
• Technology
• Thailand
• Japan
• Financial Services
• Venture
• 500 Startups
• East Ventures
• Southeast Asia