Sinar Mas Digital Ventures (SMDV) led an investment round worth up to $2,6 million (around Rp34 billion) intended for Thailand-based Omise. East Ventures, 500 Tuktuks (500 Startups’ special fund for Thailand), and True also joined the round. Omise plans on utilizing the funding for their expansion preparation, including its “big plan” in Indonesia.
As being cited from TechCrunch, aside from focusing in Thai market, Omise also looks to expand to Japan in the near future. The startup was founded by Jun Hasegawa and Donnie Harinsut. After Japan, it makes sense to continue the expansion to Southeast Asian market, in which Indonesia is one of most potential markets in the region. In Thailand, Omise is the only one that possesses the PCI 3.0 compliant.
It’s not Sinar Mas Group’s first investment at foreign companies. They have previously funded Japan-based TwitCasting and Singapore-based MyRepublic.
Regarding its plans in Indonesia, Harinsut and Hasegawa only revealed that they have a “big plan” for Indonesia. Hasegawa emphasized, “We look to help Southeast Asian (people) and turn them into cashless society so that they won’t have to use cash any longer.”
