Thai food delivery startup Line Man Wongnai said on Thursday it is acquiring a majority stake in Thai payments business Rabbit Line Pay in the latest deal by the Southeast Asian unicorn.
It did not disclose the financial details of the deal.
Line Man Wongnai was formed in 2020 from a merger between Line Man, the Thai food delivery business of chat app operator Line, and restaurant aggregator Wongnai.
The startup competes with Grab, Foodpanda, and the food delivery business of Siam Commercial Bank.
Line Man Wongnai last month said it had agreed to buy startup FoodStory, which offers point-of-sales systems to restaurant operators, as it tries to drive the uptake of digital services in Thailand.
Reuters