Leading Thai payment technology provider Digio raises $4M Series B financing from strategic investors
Posted May 12, 2020 13:49 (GMT +7)
Bangkok--(THAI BUSINESS NEWS)--May 12, 2020
Digio, a Thailand-based leading payment technology provider, raises USD 4 million in Series B round to accelerate product and services development. The investors included in this round are Thai interbank payments provider PCC, Beacon Venture Capital, and Private Equity Trust for SME Growing Together 2 with Siam Alpha Equity (SAE) as Trust Advisor. The funding will enable Digio to expand its capacity to provide innovative payment technology for financial institutions and strengthen Thailand’s rapidly growing digital payments infrastructure. Particularly given the increased uncertainty surrounding the current public health crisis, infrastructure supporting cashless payment plays a pivotal role in enabling remote transactions, both on and offline for consumers and businesses.
Mr. Nopphorn Danchainam, Founder and CEO of Digio, said, “We feel highly privileged to have long-standing trust from PCC and the major financial institutions in Thailand, and today’s investment will allow us to deliver a broader array of payment services to institutions and consumers alike.”
Digio’s products allow major institutions to enable digital payments for consumers and SMEs. In 2019, Digio’s array of payment products processed close to USD 1 billion. The company was recently awarded the Payment Facilitating Services (PFS) license by the Bank of Thailand (BOT) in 2020, which will help it offer new payment services directly to consumers and small businesses. This new license will complement Digio’s existing compliance certifications as the company is also certified for PCI compliance for banks, financial institutions, FinTechs, and other financial services providers.
In collaboration with PCC, Digio recently launched FLite, an innovative low-cost POS terminal which will allow SMEs to securely accept and process contactless credit card payments. The company has also worked with major Thai financial institutions to facilitate e-invoices and e-payments, culminating in the release of their latest product, MeeBill. MeeBill allows online and offline retail merchants to issue invoices to customers and collect QR payments via their mobile devices, as well as automatically reconciling the invoice against cash received.
“Our mission is to enable secure and frictionless digital payments in Thailand and the greater Southeast Asian region. With long-standing trust from our partners, we can and will create financial solutions that not only impact businesses but also people's lives and drive the endless possibility of digital payments,” concluded Mr. Danchainam.
Established in 2012, Digio provides payment hardware and software solutions, such as EDC, mPOS, soft tokens, and payment gateways. The company has three offices in Bangkok and Chiang Mai. While based in Thailand, Digio’s client base covers Asian countries such as Japan, Malaysia, and Myanmar. Digio has won several public awards for innovation, notably including the Prime Minister Award at ‘Startup Thailand 2017’. Unlike most startup companies, Digio has been profitable since its inception, and will continue to focus on maintaining a sustainable growth philosophy.
About Digio (Thailand)
Digio (Thailand) positions itself as a technology company dedicated to assisting financial institutions and partners with solutions through technology and innovation. Digio offers solutions to create efficiency and in turn create trust for SMEs and consumers.
Beacon Venture Capital
Business Development Manager
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