InVent invests in Digio, the no. 1 mPOS startup in Thailand

Telecommunication Press Releases Friday June 30, 2017 12:57
Bangkok--30 Jun--Ogilvy Public Relations

InVent, a VC arm of Intouch Holdings Public Company Limited (SET: INTUCH) has invested in Series A financing round of payment and e-wallet technology startup Digio (Thailand) Co., Ltd. Digio and Intouch aim to tap onto the rapidly growing e-payment market in Thailand and Southeast Asia.

Mr. Kim Siritaweechai, Executive Vice President – Portfolio Management and Head of Venture Capital Team (InVent) at Intouch said: "Intouch mainly focus our investment on telecommunication, media, and IT. By following our mission "Connecting Thais for Sustainable Growth", InVent will help Intouch create sustainable growth for our shareholders, customers, and society through innovative technology. Fintech is one of the technology that we believe can improve customers' convenience and make their life easier.

"Digio is the first fintech company that has caught our eye. Its impressive growth and traction has proved itself that it is one of the leading fintech company in Thailand."

"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 other field in a world of financial technology." said Mr. Kim.

Bangkok-based Digio is one of the leading financial technology (fintech) startup in Thailand. The company provides turnkey payment solutions including card-based payment and e-wallet for financial institutions. The company is widely 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 since then. This technology is also conform with and supports the National e-Payment policy of the government of Thailand to increase the use of electronic card payment and transform Thailand to a cashless society.

Mr. Nopphorn Danchainam, CEO and Founder of Digio said: "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 the aim to help SMEs to be able to accept electronic card payment with acceptable fees. Currently, Digio system can also accept payment from e-wallet such as Alipay or WeChat Pay."

"We are expanding our team to support the growing demand from the domestic clients and also aiming to expand our reach to neighboring countries by partnering with Intouch."

Digio is the first fintech company in InVent's portfolio and it is the 11st company that InVent has been invested. Among previous investments by InVent include international VR advertising company: Social Nation, local business review portal: Wongnai, golf course booking platform: Golfdigg and mobile-first engagement solutions: Playbasis.


Latest Press Release

Cambium Networks Manufactures The 1 Millionth PMP 450 Wireless Broadband Module

- PMP 450 wireless broadband provides affordable, reliable connectivity for smart cities, rural connectivity, and Industrial IoT applications Cambium Networks , a leading global provider of wireless networking solutions, today announced a manufacturing...

ZTE 6-Month Profit Rises 29.8% on Higher Mobile Network and Devices Sales

ZTE Corporation ( 0763.HK / 000063.SZ ), a major international provider of telecommunications, enterprise and consumer technology solutions for the Mobile Internet, reported a 29.8% surge in first-half net profit, powered by growth in the company's...

AIS launches AIS NEXT G, the first high-speed network of 1 Gbps in Asean, and introduces a new chapter for its AIS Shop in downtown Bangkok to provide new experiences in digital access

The NEXT GENERATION NETWORK sees the launch of "AIS NEXT G", a new network facilitating the highest and fastest speed Internet access, a first for Asean. AIS is currently commercializing this breakthrough nationwide through a technological network called...

AIS NEXT Generation to overcome all obstacles in the digital era AIS launches AIS NEXT G, the first high-speed network of 1 Gbps in Asean, and introduces a new look for its AIS Shop in downtown Bangkok to provide new experiences in digital access

AIS is moving forward with its vision of "Digital for Thais" by making concerted efforts in developing digital technology to support and create new opportunities for the Thai people and the country as a whole. In this regard, AIS is introducing the new...

LEAGOO Announces the Official Partnership with Tottenham Hotspur Football Club from 2017 to 2022

LEAGOO signs a five-year Official Partnership contract with Tottenham Hotspur Football Club in London starting from 2017 to 2022. Thus, LEAGOO becomes the first and exclusive mobile phone brand that sponsors Tottenham Hotspur Football...

Related Topics