SYNQA rebrands to Opn, secures USD 120 mln

Tuesday 10 May 2022 08:09 CET | News

SYNQA has rebranded into Opn and raised a total of USD 120 million in Series C+ funding.

The founding round was backed by JIC Venture Growth Investments (JIC VGI), MUFG Bank, and Mars Growth Capital (Mars Growth). This brings the total capital raised to over USD 222 million to date, placing it in a good position to continue developing its innovative services and products for people and businesses of all sizes.  

Opn is a one-stop payment and embedded fintech solutions company from Southeast Asia and Japan and will utilise the funds to continue scaling its business and expanding into new geographies.

Along with the fundraising, Opn, previously under the brand SYNQA, announced the launch of its corporate rebranding to support its expanded strategic vision and global aspirations. Opn’s parent company, SYNQA, is one of the first companies to receive certification for its business plan from the Japan’s Ministry of Economy, Trade, and Industry (METI) through a ministerial programme started in August 2021. The initiative guarantees private sector loans for deep-tech venture companies. 

Under this programme, companies that have had their business plans approved by METI are able to receive loans from private financial institutions approved by the Minister of Economy, Trade, and Industry. The loans are backed by METI's Organisation for Small & Medium Enterprises and Regional Innovation of Japan (SMRJ).

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Keywords: investment, funding, embedded finance, fintech, payments
Categories: Banking & Fintech
Companies: Opn
Countries: Japan
This article is part of category

Banking & Fintech


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