Here’s what you need to know.

1. Lalamove to launch same day delivery service in Bangkok by June

Apart from the technology development for the same day delivery service, Lalamove will use the funding to expand its on-demand delivery services from current 45 cities to 100 cities by end of year. Currently, Lalamove operates in Hong Kong, Singapore, Bangkok, Taipei, Manila and 40 cities in mainland China.

Currently, Lalamove’s on-demand delivery service extends to the food industry. By extending same-day delivery to other industries, the startup hopes to attract more ecommerce companies and online retailers.  Regional director of city operations at Lalamove commented,

We choose to test the new service in Bangkok as it marked the highest growth in 2016 in terms of usage and the service value outside China – Santit Jirawongkraisorn

Read the rest of the story here.


2. Ant Financial makes its first investment in the Philippines through Mynt

Mynt is a wholly-owned subsidiary of Globe Capital Venture Holdings Incorporated (GCVHI) under Globe Telecom and Ayala Corporation. The deal represents Ant Financial’s first-ever investment in the Philippines and gives Mynt access to the digital payment giant’s know-how in using technology to provide equal access to financial services.

Read the rest of the story here.


3. Online lenders will face new regulations in Indonesia

Indonesia’s financial services authority (OJK) is working on new rules for online money lenders.

What will the new regulations do? The rules will put a cap on the the maximum amount balance sheet lenders can hand out. The aim is to keep the loan size small so online balance sheet lenders would fill a gap rather than compete directly with banks.

The regulations concern online lenders who give out loans from their own capital.

Read the rest of the story here.

4. Community Chatter: Omise to launch new e-wallet platform in Q4

Source: Omise founder, Jun Hasegawa’s twitter

Payment platform Omise is set to launch a new e-wallet feature, Omise Go which will be powered by ethereum. It will be a platform for payments, remittances and more for the unbanked population.

Read more about Jun Hasegawa in eIQ’s SPARK40 list of ecommerce professionals here


Omise, a Bangkok-based payment enabler much like Stripe, has raised a $17.5 million Series B round to expand its reach across Southeast Asia, reports TechCrunch.

The company proves a payment gateway system that allows any retailer take credit card payments online. Omise isn’t releasing any figures for its business but Harinsut said the company can reach profitability inside the the next year.

The company offers its service in Thailand and Japan (the birthplace of CEO Jun Hasegawa), but there are plans to expand to Indonesia, Singapore and Malaysia, where it has carried out closed testing.

Omise funding history

This new round, which is one of the largest for a fintech company in Southeast Asia to date, was led by Japan-based SBI Investment, with participation from Sinar Mas Digital Ventures (SMDV) in Indonesia, Thailand’s Ascend Money (affiliated with mobile operator True), and existing backer Golden Gate Ventures. Omise has now raised over $25 million, including a $2.6 million Series A in May 2015 andundisclosed round from Golden Gate Ventures last October, right after the Singapore-based VC firm announced a new $50 million fund.

Competitive e-payment market

There are many rivals, including 2C2P which raised $7 million last year and ispowering a social commerce trial with Facebook. Stripe, meanwhile, is in the region, but it appears to be working on creating demand in the U.S. from overseas via its Atlas project, rather than going for a full-on localization approach.

Unlike its local competitors, Omise is solely focused on digital payments and not cash.

Around 60% of payments online right now in Southeast Asia.

He explained that the challenge is about reaching suitable scale. Omise makes its money by charging 3.65% on transactions, with a one dollar fee for up to $60,000 (1 million THB) withdrawn, but it offers flexible packages for larger customer.

A version of this appeared in TechCrunch on July 21. Find the original version here.