DOKU Expands into Malaysia Through the senangPay Acquisition
Jakarta, Indonesia, July 14, 2022 – After receiving funding from Apis Growth Fund II, a private equity fund managed by Apis Partners LLP last year, DOKU announced today its acquisition of senangPay, one of the leading online payment gateways in Malaysia. senangPay was acquired by DOKU and received funding of US$7.5 million.
DOKU’s Chief Operating Officer Nabilah Alsagoff explained, “The recent acquisition of senangPay marks the beginning of DOKU’s expansion overseas and its efforts to reach a wider business segment, especially SMEs. 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.”
senangPay is an online payment gateway that was established in 2015. It 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 the majors e-wallet providers in Malaysia. Today, senangPay is amongst the Top 5 payment gateways in Malaysia and the company serves over 15,000 merchants, which it supports with its team of 45 people.
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) etc. With these new offerings, senangPay 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.
“When we set up senangPay, we wanted to create an alternative payment gateway for the small medium businessespecially for business owners that lack technical skills and not familiar with digital tools. Operating online business is not so affordable so we started something that is more cost effective. 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,” said senangPay CEO Mansor Abd Rahman.
As a testament to senangPay’s market innovation, the company recently launched senangzakat, a convenient platform to pay a variety of zakat (donations) in Malaysia. This new offering has already gained strong traction and positive responses from users which have highlighted its user-friendly experience. senangPay has also been named as a “Top Performing Partner for Go eCommerce Onboarding Campaign & Shop Malaysia Online Campaign 2021” by the Malaysia Digital Economy Corporation (MDEC) for helping online business owners swiftly migrate to digital during the COVID19 pandemic and lockdowns.
DOKU is a payment platform and the first Indonesian-owned electronic payment solutions provider to offer local payment solutions tailored to address merchants’ online payment needs. Established and registered under PT Nusa Satu Inti Artha in 2007, DOKU is the first Indonesian company to earn the Payment Card Industry Data Security Standards (PCI DSS) Level 1 version 3.2 certification. DOKU provides the most complete suite of online and offline payment solutions, and the most local payment methods, serving over 150,000 merchants across many industries, including TikTok, Google, Garuda, Prudential, and Traveloka.
DOKU is the only payments player with five licenses from Bank of Indonesia which enables us to offer a variety of solutions, such as payment gateway, domestic fund transfers, cross border remittance, biller payments, e-money, e-wallet and QR code payments. For more information, please visit doku.com, find us on Instagram, Facebook, LinkedIn, Youtube, TikTok and Twitter (DOKU ID), or email email@example.com.
Established in 2015, senangPay is an award-winning payment gateway provider that is built and developed for merchants and customers to safely and easily conduct online transactions. It aims to provide a safer and cost-effective digital journey for businesses especially to the SMEs and microenterprises.
senangPay encourages online trade and improves the buying journey of customers with a combination of payment such as credit card, debit card, and internet banking payment methods with all the major e-wallet players in Malaysia. It is managed by SimplePay Gateway Sdn Bhd and is registered with Bank Negara Malaysia. senangPay is currently used by 15 thousand businesses and is currently ranked in the top five payment gateways in Malaysia. For more information about senangPay please visit www.senangpay.my or email to firstname.lastname@example.org
About Apis Partners
The Apis Group (“Apis”) is an ESGI-native global private equity and venture capital asset manager that supports growth-stage financial services and financial infrastructure businesses by providing them with catalytic growth equity capital. Collectively Apis, through its team of approximately 30 professionals with deep industry expertise, manages or advises on total committed capital from investors (including drawn and invested capital) of US$1.2 billion. Including its headquarters in London, Apis has representation in seven countries across Europe, North, East and West Africa, and South and Southeast Asia. www.apis.pe
Apis Partners: Francesca Rossi | Francesca.email@example.com| +44 (0)20 3653 0500