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Thai payments firm Synqa raises $80m

Thai payments firm Synqa raises $80m

Thai fintech startup Synqa (formerly called Omise) has raised $80 million in a Series C funding round led by SCB 10X and Sparx Group.

Toyota Financial Services Corporation, SMBC, SMBC Venture Capital, and Aioi Nissay Dowa Insurance Corporation joined the round.

Founded in 2015, Synqa is the parent company of Omise, which offers payments services to online and offline merchants in Thailand, Japan and Singapore. It also runs Ethereum-based money transfer tool OMG Network.

Synqa is hoping to benefit from Asia's move away from cash, accelerated by the Covid-19 pandemic and related social distancing.

Jun Hasegawa, CEO, Synqa, says: "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 by our subsidiaries to better connect people, businesses and society."

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