Indonesia’s DOKU has announced its acquisition of Malaysia-based online payment solution senangPay for USD$7.5 million made possible by the raising of funds from Apis Growth Fund II, a private equity fund managed by Apis Partners LLP last year.
Through this venture, senangPay is planning to strengthen and expand services beyond online payment gateway, adopting new services such as e-wallet, remittance, and offline transaction such as Tap On Glass, M2M (mobile to mobile) and more.
“As a leading payments provider in Indonesia with the widest suite of online and offline payments products serving over 150,000 merchants, we look forward to offering our innovative products to similar businesses in Malaysia,” said DOKU’s Chief Operating Officer Nabilah Alsagoff. “We believe the opportunity to enter Malaysia is all the more attractive given the similar socio-cultural backgrounds of our two countries.”
Established in 2015, senangPay is managed by Simplepay Gateway Sdn Bhd and registered with Bank Negara Malaysia as a merchant acquiring services provider and helps Malaysian businesses easily accept customer payments through a range of methods which includes credit card, debit card, internet banking (FPX) and all majors e-wallet providers in Malaysia.
With these new offerings, senangPay said that it will enable the transition of its merchants from brick-and-mortar models into the digital era, in line with the Malaysian government’s “Malaysia Digital” initiative.