Thai payments start-up Digio raises $4 million in Series B funding
Thailand-based digital payments firm Digio has raised $4 million in a Series B funding round featuring the country’s interbank payments provider, the Processing Center Company (PCC).
Digio plans to use its new funds to boost its product line and develop its services, as well as continue its presence in other Asian countries including Japan, Malaysia and Myanmar.
“We feel highly privileged to have long-standing trust from PCC and the major financial institutions in Thailand,” says Nopphorn Danchainam, founder and CEO of Digio.
He adds that the investment will allow his firm to deliver “a broader array of payment services to institutions and consumers alike.”
Founded in 2012, Digio offers payment hardware and software solutions, including mobile point of sale (mPOS), payments gateways, soft tokens and EDC terminals.
It received a payments licence from the Bank of Thailand to enable it to offer payments services directly to consumers and small businesses.
In collaboration with PCC, Digio recently launched FLite, a low-cost POS terminal which allows small and medium-sized enterprises (SMEs) to securely accept and process contactless credit card payments.