Company: OWLS
Filing Date: 2025-09-19
Form Type: F-1/A
Source: 0001193125-25-208098
Chunk: 130

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-19
Form: F-1/A
Chunk 130
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 any forward-looking statements.

Overview

We have almost a decade of experience applying blockchain technology to improve operational efficiency for businesses. We first launched
OwlTing Market, an e-commerce platform designed to elevate local businesses and farmers by improving product quality and enhancing global market exposure. Expanding its footprint into the hospitality
sector, we introduced OwlNest in 2018, the innovative PMS, which connects more than 2,500 hospitality providers as of December 31, 2024. In that same year, we launched the OTA platforms OwlJourney and OwlTing Experiences, to
provide various types of properties and tours for travelers. Additionally, we launched the platform offline services to offer accommodations under our own brand, OwlStay. The integration of systems, platforms, and accommodation services
facilitates unique travel experiences for travelers.

Through close interaction with businesses in 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. For the years ended
December 31, 2023 and 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-