SMDV Participates Again in Thailand's Omise Payment Services Funding

Sinar Mas Digital Ventures (SMDV) is again participating in a funding round for Thailand's payment service Omise. After last year leading the Series A funding, this time SMDV became one of the VCs that provided Series B funding with a total value of $17,5 million (approximately 230 billion Rupiah). This value is claimed to be one of the largest obtained by fintech startups in Southeast Asia. One of Omise's targets is to expand in the Asia Pacific region, including Indonesia.

This time, the funding led by SBI Investment Japan was also followed by Golden Gate Ventures and Ascend Money. Omise which have been operating in Thailand and Japan actually have offices in Indonesia but have not actually operated publicly. It is hoped that this funding will accelerate market expansion in Asia Pacific, especially Indonesia, Singapore and Malaysia.

Regarding the plan to open services in the archipelago, Omise told DailySocial, "We have explored partnerships and built solutions. Until now we have been ready with all legal needs and we have obtained a number of deal here. We plan to launch this service [Omise] in Indonesia later this year."

Omise alone has raised $25 million in total from several rounds. Omise CEO Jun Hasegawa said in a statement:

"Among the various payment platforms in the region, Omise is unique because it focuses on providing enterprise delivery capabilities with convenience specific to Southeast Asian countries and APEC member countries. Omise will develop synergies with strategic partners to build financial connectivity, develop portfolios for business promising and increasing customer base in the region."