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Soft Space raises largest Series B by a Malaysian startup

Soft Space raises largest Series B by a Malaysian startup

Malaysian SoftPOS player Soft Space has completed a $31.5 million Series B1 funding to expand its global footprint and widen its customer base.

Southern Capital Group led the funding round, with participation from returning investor transcosmos, strategic investor JCB, and venture capital fund Hibiscus Fund.

Drone manufacturer Aerodyne Group held the previous Series B funding record in the country when it raised $30 million in October 2019.

Founded in 2012, SoftSpace claims more than 70 financial institutions and partners in Japan, Europe, Oceania and Americas. Customers include Maybank, CIMB, Hong Leong Bank, and Bank of New Zealand.

The company is currently focusing on expanding into omnichannel payments, including the adoption of artificial intelligence, QR code payments, e-wallet systems, and money lending schemes.

Chris Leong, chief strategy officer of Soft Space, says: “With the closing of this round, we are restructuring Soft Space's capital base to catapult the company towards high growth and strengthen our global market position."

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