Japanese venture capital firm Global Brains has invested an undisclosed sum into Omise Holdings, a Thailand-based FinTech service provider, the companies announced in a press release.
The investment, which is also led by 31VENTURES, a venture capitalist arm of Mitsui Fudosan, one of the largest real-estate developers in the country, and returning Indonesian venture capital SMDV, is aimed at financing Omise’s expansion plans in Japan. It would also offer support to the development of Omise’s financial infrastructure, which includes a PayPal-like payment and remittance service, and an Ethereum-powered decentralized exchange.
Improving the traditional financial infrastructure with innovative tools will be Omise’s prime agenda as it expands into new territories. The startup recognized the millennial’s need for a border-less and speedy payment service as their businesses grow globally.
“Global expansion is a key growth driver for businesses around the world, yet financial transactions are being processed by legacy platforms built on infrastructures that are not geared to support global commerce needs,” the Omise statement read. “As global commerce and population movement grow, the ability to conduct payments anytime and anywhere becomes a necessity.”
Omise will, therefore, eye enterprise adoption in Southeast Asia as a part of its strategy, beginning with Japan. The company will leverage on it OMG Network, eWallet Suite, and OMG DEX financial tools to enable local businesses and individuals to conduct day-to-day finance operations from the comfort of their mobile phones.