Singapore-based PSP Coda Payments has announced investments of more than USD 20 million in a deal led by private equity asset manager Apis Partners.
Founded in 2011, Coda helps publishers such as Tencent, Garena, and Netflix monetise games and other digital content. Through Codapay, Coda allows these companies to accept more than 100 payment methods on their websites, including direct carrier billing, bank or ATM transfer, cash payments at convenience stores, online vouchers, and e-wallets.
It also operates Codashop, a platform where users can top up their game credits and other digital services. It also offers a white-label version of Codashop, which allows ecommerce sites to offer a wide range of digital content.
Apis’ knowledge of the payments landscape in emerging markets would help Coda expand its footprint to new markets and develop more products, said Coda CEO Philippe Limes. As part of the deal, Apis and one of Coda’s existing angel investors, Skype co-founder Toivo Annus, acquired an undisclosed amount of shares from “several” of Coda’s seed-stage backers.
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