Mumbai: PayMate India (“PayMate”), a provider of B2B payment solutions backed by investors like Visa and Lightbox, has announced a binding term sheet for the acquisition of DigiAsia Bios Pte Ltd., a top Fintech-as-a-Service (FaaS) company in Indonesia and a wholly owned subsidiary of DigiAsia Corporation.
The Proposed Transaction values DigiAsia at $400 million. Following the acquisition, PayMate plans to invest up to $25 million in cash. The two companies will continue joint due diligence to finalize the financing structure and transaction terms, aiming to secure necessary corporate and regulatory approvals within 60 days. After the acquisition closes, PayMate intends to pursue a public listing for the combined entity in India.
