Omise

paymentspayment gatewaysblockchain (payments)blockchain

FOUNDING YEAR: 2013
LOCATION: Thailand
Last Update: 23/10/2020

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About

At Omise, we believe that online payment is a necessity to develop a successful business on the internet. We provide our users with the necessary tools to run an online business, accept payments and connect them with millions of potential customers.Our payment solution is simple to setup and works seamlessly across multiple devices. We take care of connecting and maintaining relationships with processors and acquirers which let our users focus on building great products.

MEDICI Analysis

Omise is a payment management platform designed to connect customers. It develops and operates an online payment platform that works on the web and mobile. Its platform allows users to transfer money directly from their account, return money to customers, and save customers' cards to charge them again in the future.

Focus

PRODUCTS & SERVICES

Omise offers a payment management platform for e-commerce businesses in Asia as well as global markets. It provides a PCI-DSS-certified online gateway that enables retailers to accept payments from customers. The payment gateway supports card payments (both credit and debit), internet banking, and Alipay. Omise also offers a public Ethereum-based platform that enables users to conduct peer-to-peer transactions in both digital and fiat currencies. It has also developed a public, decentralized platform called OMG network, which offers an asset-backed blockchain gateway. It uses the mechanism of a protocol token to create a proof-of-stake blockchain to enable enforcement of market activity amongst participants. It includes various offerings like White-Label SDK (enables users to create an app, for wallet-to-wallet transactions of crypto and fiat currencies, loyalty points, game credits), Digital Asset Gateway (enables users to access, manage, and transact with digital assets through the OMG network), decentralized exchange (offers users with multi-asset and cross-chain interoperability) and ClearingHouse (enables clearing of transactions through Ethereum smart contracts).

REVENUE MODEL

The company generates revenue through transaction fee. 1. It charges 3.65% per transaction for accepting payment via credit card. 2. It charges 1.65% per transaction for accepting offline payment and 3.65% per transaction for accepting online payment both via Alipay. It also charges transfer fee which is $0.9 to $4.51 depending on the transactions.

MAIN CLIENTS

Major clients: Ascend

Minor

EventPop

Kaidi

Page365

The Pizza

Acommerce

I Love Shopping

True

Kingpower

Minor

etc.

EXISTING PARTNERSHIPS

12go

McDonald's

Dtac

Thai Airway

Alianz Ayudhya

AXA

Kadee

Minor International

Home Pro

Tsuruha

WeLoveShopping.com

Thai Union,

COMMENT

In addition to the product suits, the company has launched a blockchain-based payments platform, which enables users to conduct P2P transactions.

Traction

VALUATION / MARKET CAP:

$17.33 M in 2015

TRANSACTIONS COMMENT:

1000% transaction growth from 2015-2016.

People

FOUNDERS

Ezra Don Harinsut

Jun Hasegawa

BOARD MEMBERS AND ADVISORS

Batara Eto

Gavin Wood

Anthony Petratyotin

Vitalik Buterin

Willson Cuaca

Joseph Poon

NUMBER OF EMPLOYEES

201-500

INVESTORS:

31VENTURES

500 Startups

Ascend Group

East Ventures

Global Brain

Golden Gate

Golden Gate Ventures

Krungsri Finnovate

Mitsui Fudosan

SBI Holdings

SCB 10X

SMBC Venture Capital

SMDV

Team In Residence

True Corp

Victory Square Technologies

Sinarmas

True Incube

Ascend Venture Group

EV Growth

SBI Asset Management

Aioi Nissay Dowa Insurance

SPARX Group

Sumitomo Mitsui Banking Corporation

Toyota Financial Services

KEY EMPLOYEES:

Ezra Don Harinsut (COO)

Jun Hasegawa (CEO)

Robin Clart (CTO)

Frederico Araujo (CIO)

Ezra Don Harinsut

COMMENT:

130+ employees with expertise across product, design, engineering, sales,,marketing.

Momentum

FUNDED

YES

TOTAL FUNDING

$100.4 M

DATE OF LAST FUNDING

Jun 2020

SEED & PRIOR FUNDING

$300 K

SEED CLOSED ON

Aug 2014

FUNDING SERIES

SERIES A  · $2.6 M  · May 2015

SERIES B  · $17.5 M  · Jul 2016

SERIES C  · $80 M  · Jun 2020

LISTED

NO

COMMENT

ICO: $25 M (July 2017) According to the source, the total funding amount is $45.4M, but the company claims it has raised $50M to date. (June 2018)

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