Dz Card (International) Ltd.
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Dz Card (International) Ltd. - overview
Established
1971
Location
-, Samutprakan, Thailand
Primary Industry
Financial Services
About
Dz Card (International) Ltd. , based in Thailand, is a company specializing in the development and provision of innovative smart card solutions that enhance digital service accessibility and ensure user identity protection. Dz Card (International) Ltd. was founded in 1971 and operates in the smart card solutions sector, focusing on enhancing identity protection and digital service access.
The company is led by CEO Renaud Adam and has engaged in two deals, with the most recent deal occurring on June 5, 2025. It has global offices, with its headquarters located in Thailand, serving a broad clientele across North America, Europe, and Asia. Dz Card specializes in advanced smart card solutions designed for various sectors such as financial services, fintech, digital communications, telecom, enterprise security, retail, healthcare, and transport. Their customizable smart cards act as secure digital keys, allowing users to seamlessly interact with essential services while protecting their personal information.
In 2023, Dz Card reported a revenue of USD 49. 07 mn and an EBITDA of USD 9. 94 mn. Their revenue primarily comes from business-to-business transactions, where enterprises utilize their smart card technology, often through a subscription model for ongoing services and initial deployment fees.
Looking forward, Dz Card plans to enhance its card issuing service base, particularly in the credit card manufacturing and issuing business across Asia and Africa, following the acquisition by TOPPAN Holdings in May 2025. This acquisition will facilitate the expansion of their operations and support the introduction of new products in response to the growing demand in these regions.
Current Investors
Navis Capital Partners
Primary Industry
Financial Services
Sub Industries
Commercial Banks
Website
www.dzcard.com
Verticals
Blockchain, FinTech, Mobile Apps
Company Stage
Mature - Buyout
Total Amount Raised
Subscriber access only
Dz Card (International) Ltd. - timeline of key events

Dz Card (International) Ltd. - financials
| Fiscal Year Ended | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 |
|---|---|---|---|---|---|
| Revenue (USD) | 1,326,247,055 | 1,247,560,035 | - | - | - |
| % Revenue Growth (YoY) | - | (5.9%) | - | - | - |
| EBITDA (USD) | 281,378,970 | 228,798,975 | - | - | - |
| Operating Income (USD) | 281,378,970 | 228,798,975 | - | - | - |
| Operating Margin | 21.2% | 18.3% | - | - | - |
| % EBITDA Margin | 21.2% | 18.3% | - | - | - |
| NET Income (USD) | 153,343,703 | 99,030,215 | - | - | - |
| % Net Margin | 11.6% | 7.9% | - | - | - |
Dz Card (International) Ltd. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LP Direct, Trade Sale | Completed | Dz Card (International) Ltd. | - | ||||||||
| Buyout | Completed | Dz Card (International) Ltd. | - |
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Dz Card (International) Ltd. - employee data


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