DOKU, an Indonesian electronic payment solutions provider, announced that it has acquired Malaysian online payment gateway senangPay for US$7.5 million by raising the funds needed from Apis Growth Fund II.
The acquisition of senangPay marks the beginning of DOKU’s expansion overseas and its efforts to reach a wider business segment especially SMEs.
Through DOKU’s acquisition, 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.
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.
Established in 2015, senangPay is managed by Simplepay Gateway Sdn Bhd and registered with Bank Negara Malaysia as a Merchant Acquiring Services provider.
senangPay is also registered with Mastercard International as a Payment Facilitator (PF) for the Asia Pacific region.
As an online payment gateway, senangPay 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.
Today, senangPay is said to have served over 15,000 merchants with a team of more than 45 people.
Nabilah Alsagoff, DOKU’s Chief Operating Officer said,
“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.
We believe the opportunity to enter Malaysia is all the more attractive given the similar socio-cultural backgrounds of our two countries.”
Mansor Abd Rahman, CEO of senangPay said,
“Our gateway is secured and we provide reliable service and superior support. We are beginning to see more merchants using us. So, I believe this acquisition is beneficial and necessary for the company’s growth as well for everyone internally and our merchants.
By closing the gap between the two countries, and combining expertise from two companies, I expect to see significant improvements in areas we may have never expected, as well as in areas we wish to improve,”