Amilo, a Singapore-headquartered logistics startup has acquired Thai logistics company Sivadon, while DCS Innov announced its acquisition of mobile wallet provider HolyWally.
SG logistics firm Amilo buys Thailand’s Sivadon
Singapore-headquartered logistics startup Amilo has announced its acquisition of Thai logistics firm Sivadon Logistics for an undisclosed amount.
The acquisition is part of Amilo’s plan to look for more M&A targets for its growth journey in the region, per the announcement. The startup last raised $2 million in 2022.
Amilo seeks to provide an operations-first logistics platform in Singapore, Malaysia, Vietnam, and now Thailand to enable Southeast Asia as a unified market.
“Thailand is pivotal for us as we support our customers expanding within one of Asia’s most dynamic regions,” said Amilo CEO Arun Mambully.
In a few months, Amilo said it will launch its cross-border services in Thailand, a platform launched by the company in 2022 through an exclusive partnership with Belgium Post’s Landmark Group.
For over two decades, Sivadon Logistics has been providing nationwide logistics solutions to local and international brands. Managing director Tananum Chatiyanonda said the acquisition will allow the company to leverage Amilo’s extensive network.
DCS Innov acquires wallet platform provider HolyWally
Payments firm DCS Innov, a subsidiary of DCS Fintech Holdings, has announced its acquisition of HolyWally, one of the world’s first wallet-as-a-service (WaaS) platform providers. Financial details of the acquisition were not disclosed.
DCS Innov said the deal forms part of its global expansion plans, particularly into the US and European markets.
The acquisition allows DCS Innov to bring InstaWally, a wallet app solution developed by HolyWally, global. Within the year, the app will be sales-ready in the US, the UK, Europe, and Japan, according to the announcement.
“The acquisition of HolyWally marks a significant leap forward for DCS Innov’s ambition to support fintech enablement globally. Payments connect businesses and consumers across the world,” said DCS Innov CEO Ceridwen Choo.
