Company: OWLS
Filing Date: 2025-09-03
Form Type: F-1
Source: 0001193125-25-195057
Chunk: 130

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-03
Form: F-1
Chunk 130
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 the hospitality industry and efforts to
modernize their backend management systems, we have gained a deep understanding of the distinct challenges that overseas suppliers and businesses encounter in managing global payments. These challenges encompass complex reconciliation processes
which require a significant investment in time and resources. In response, leveraging our experiences in blockchain technology, we launched OwlPay intending to provide businesses and individual customers with options to use both stablecoin
and fiat currency across a wide range of financial applications. Additionally, in May 2023, we acquired a Taiwanese payment gateway company, PayNow to complete our payment ecosystem with secure, real-time and cost-effective one-stop payment solutions covering a range of services from payment gateway to business payout.

Our
business operations consist of the main business segments, including:

Payment services. We offer payment services through
OwlPay. As of December 31, 2024, our payment service revenue was entirely generated from OwlPay Payment under OwlPay suite which includes our operations in: (i) payment gateway services, enabled by our acquisition of PayNow
in May 2023, which offers payment collection functionality to businesses and proprietors to receive consumer payments; and (ii) payout services that support multiple payout settlement routes in fiat currency or stablecoin. As of December 31,
2024, the transactions we helped process had been conducted via fiat currency, and we are further rolling out and expanding our payment services with other settlement routes including via stablecoin. Our business model depends on attracting business
customers and individual customers to use our payment-related products and services, for which we charge fixed-amount, per-transaction handling fees and/or percentage-based transaction fees (e.g., for foreign exchange conversion and conversion
between stablecoin and fiat currency). Our payment services helped process US$218.6 million in GPV (as defined below) in 2024 and registered over 3,900 Active Accounts (as defined below) as of December 31, 2024. Substantially all of the GPV in
2023 and 2024 came from our payment gateway services enabled by our acquisition of PayNow in May 2023.

Hospitality services,
including software services and platform services. Our hospitality-related software services are through OwlNest, a PMS for hoteliers, and our hospitality-related platform services are through OwlJourney and OwlTing Experiences, which are OTA platforms for hoteliers and local tour guides, and OwlStay, our self-branded offline platform service providing accommodation to travelers. We are primarily focused on