Coda Payments is a Singapore-based independent platform for digital content monetization that operates Codashop, Codapay, and xShop. Codashop is an independent source for games and in-game currencies. Codapay lets publishers accept the same range of 300+ payment methods available on Codashop on their own websites. xShop allows publishers to distribute their products through a range of e-commerce and other consumer-facing platforms. Led by Executive Chairman and Co-founder Neil Davidson, the company raised $690M in funding. Coda intends to use the funds for international expansion. Coda Payments is a Singapore-headquartered fintech firm that helps digital content providers accept payments. On Tuesday the company announced it had raised $20 million in an investment led by UK-based private equity firm Apis Partners. The article describes the financing only as an "investment" and does not provide further instrument details. No additional participating investors, valuation, or operating metrics were disclosed in the report. The article also did not include information on past funding rounds, the founding year, or future plans. Coda Payments builds a payments aggregation platform that enables alternative online payment methods across Southeast Asia, moving beyond its original carrier-billing focus to support bank transfers, cash retail payments, mobile wallets, bitcoin and prepaid gaming cards. The company also operates a consumer-facing storefront, CodaShop, which carries content from partners like Steam, Skype and Amazon and accounts for as much as one-quarter of its revenue. Coda has offices in Singapore and Jakarta and representatives in San Francisco and Hong Kong. Management says the startup processes about 17,000 transactions per day. Future plans in the article include geographic expansion (next stop: Taiwan) and adding more payment methods and subscription-billing support for services such as music and video streaming. Leadership frames the business as capital-efficient and aiming toward profitability, with a possible future mobile-wallet product if transaction volume and merchant aggregation justify it. Coda Payments is a Singapore-based company operating a transaction-processing platform that enables merchants to let customers buy goods and services using prepaid mobile accounts. It currently operates in Indonesia and targets people who lack access to credit or debit cards. The platform enables purchases of digital goods including e-content, job listings, information services and microinsurance policies. The company raised funding from Venture Lab, though the amount of the deal was not disclosed. Venture Lab is Accion’s $10m seed capital initiative, which invests in startups that expand global financial inclusion. The company is led by Neil Davidson (CEO), Paul Leishman (COO) and Bobby Choi (CTO).

Total raised

$712M

Funding rounds

4

Latest round

Equity

Latest activity

Apr 2022