DigiAsia (FAAS) to Sell DigiAsia to PayMate

PayMate India (“PayMate”), a leading provider of B2B payments and services with reputable investors such as Visa & Lightbox, today announced that it has entered into a binding term sheet (the “Proposed Transaction”) for the potential acquisition of DigiAsia Bios Pte Ltd., Singapore, a leading Fintech-as-a-Service (FaaS) company in Indonesia and a fully owned subsidiary of DigiAsia Corporation (NASDAQ: FAAS) (“DigiAsia”).

Under the terms of the Proposed Transaction, an enterprise valuation of US $400 Million for DigiAsia’s business has been determined. Additionally, post the Proposed Transaction, PayMate intends to invest up to US $25 Million in cash, the aggregate financing structure and terms will be finalized in mutual agreement. PayMate and DigiAsia will continue joint due diligence on both entities, identification of the right transaction structure, entering into definitive agreements and the necessary corporate and regulatory approvals of PayMate and DigiAsia which is expected to take up to 60 days. Subsequent to the closing of the Proposed Transaction, PayMate intends to initiate proceedings to list the combined entity in India.

About PayMate

PayMate India Ltd – a leading digital B2B payments company that empowers businesses of all sizes to enhance financial efficiency and streamline B2B payments. The platform simplifies and digitizes B2B payment processes, optimizing working capital, and ensuring timely supplier payments. PayMate's solutions encompass Accounts Payable, Accounts Receivable, Invoice Discounting, Cross Border and Embedded Finance. In FY24, PayMate processed USD 10.5 billion in transactions, serving over 522,000 customers worldwide. With a strong presence in India, CEMEA, and APAC regions, PayMate is the trusted partner for businesses seeking to streamline payment processes.

For more information, visit https://paymate.in/ or follow us on LinkedIn.

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