Dec 5, 2013

[Tech In Asia] Coda Payments scores $2.3 million to make mobile payments without credit cards a cinch

Coda Payments, a Singapore-based company working with telcos to implement easy payments for digital products, has secured $2.3 million in Series A funding from GMO Global Payment Fund, Rakuten Ventures, CyberAgent Ventures, Golden Gate Ventures, and Skype co-founder Toivo Annus. With the money, Coda Payments plans to expand to Malaysia and Singapore. They’re also looking to hire a CFO and a product manager. 
The company, which launched in March 2013, has already forged relationships with over 30 digital content providers from Asia. It is also partnering with two Indonesian telcos, Axis and Esia Mobile, each with 12 million subscribers. ...
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Tech in Asia 12/3/2013 [en]

  • CyberAgent Ventures has been continuously investing in start-ups in South East Asia for the past several years, but it is not common for three Japanese Internet companies together invest. Payment is absolutely the key for most of Southeast Asian countries to grow and monetize Internet services. The Japanese companies may see huge potential in the start-up.

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