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BANGKOK, June 22 (Reuters) - Siam Commercial Bank Pcl SCB.BK said on Monday that payments startup Synqa raised $80 million from the Thai lender and other companies including Japan's Sumitomo Mitsui 8316.T and Toyota 7203.T, reflecting investor appetite for the digital market.
Bangkok-based Synqa, formerly known as Omise, was founded in 2013 as a payment gateway.
"Despite these challenging times, I see a lot of opportunities in accelerating digital payments and digital transformation for enterprises. This funding will accelerate the development of quality products and services," Synqa founder and Chief Executive Officer Jun Hasegawa said.
The Series C funding round was also joined by Japanese investors Sumitomo Mitsui Banking Corp (SMBC), Toyota Financial Services Corp, SMBC Venture Capital, Aioi Nissay Dowa Insurance Corp and other investors, according to the statement from Siam Commercial Bank.
Bangkok-based Synqa, formerly known as Omise, was founded in 2013 as a payment gateway.
"Despite these challenging times, I see a lot of opportunities in accelerating digital payments and digital transformation for enterprises. This funding will accelerate the development of quality products and services," Synqa founder and Chief Executive Officer Jun Hasegawa said.
The Series C funding round was also joined by Japanese investors Sumitomo Mitsui Banking Corp (SMBC), Toyota Financial Services Corp, SMBC Venture Capital, Aioi Nissay Dowa Insurance Corp and other investors, according to the statement from Siam Commercial Bank.
https://www.nasdaq.com/articles/thai-startup-synqa-raises-%2480-mln-from-siam-commercial-toyota-and-others-2020-06-21
Was really surprising that amid the corona virus pandemic and the worsening economic downturn, we have seen this startup raised a whopping $80 million from different big companies. I'm not saying that we consider this as a step closer to adoption, but it is interesting to hear that big investors are pouring their money in this project and hope that it can bring good news to altcoin market.