Coda Payments has reportedly raised $20m in a funding round led by private equity firm Apis Partners.
The investment saw Apis and Skype co-founder Toivo Annus receive an undisclosed number of shares in Coda Payments from “several” of seed-stage backers, according to a report from Tech in Asia.
Founded in 2011, the Singaporean FinTech helps digital content providers accept payments in more than 20 countries via its payment channels. There are more than 100 payment methods available to customers including e-wallets, bank transfers, cash payments in stores, e-wallets, telecom bills and vouchers.
With the latest investment, the FinTech is looking to grow its footprint into new markets and establish additional products, the article said.
The payments company previously raised $2m in a funding round from IMJ Investment Partners, GMO Global Payment Fund, Toivo Annus and Golden Gate Ventures back in 2016.
There is a lot of interest in the Singaporean FinTech sector currently. During the third quarter of 2019, the country was responsible for six of the largest investments in the ASEAN region. The largest of these deals was Mapletree Industrial Trust, a real estate investment trust, which closed a $290m round.