PayMate Expands its Footprint
DigiAsia Bios, a Fintech-as-a-Service company in Indonesia, has been acquired by PayMate pursuant to a binding term contract. PayMate has announced its intention to invest a maximum of $25 million in cash. The aggregate financing structure and other terms have not yet been finalized.
The combined company intends to conduct a public listing in India next year, provided that the transaction is finalized.
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PayMate, which has secured investments from Visa and Lightbox, assists businesses in the digitization and simplification of B2B payment processes. This encompasses accounts payable and receivable, invoice discounting, and embedded finance.
The company reported that it served over 522,000 clients worldwide and processed $10.5 billion in transactions during the entire year of 2024.
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