Garena began its gaming business in 2009 and is Singapore‑headquartered. The company is best known for gaming, but has expanded into payments through AirPay and social commerce via Shopee. Garena reported annual revenue surpassing $300 million last year and said that represents compound annual revenue growth of more than 95% over the past five years. Shopee has reached 1.4 million sellers and an "annualised" GMV of $1.3 billion, while AirPay has an annualized gross transaction value exceeding $510 million. Garena said it is investing heavily in social commerce and payments as strategic priorities in Southeast Asia. The company did not disclose profit/loss for 2015 in the announcement. Founded in 2009 as an online community for PC gamers, Garena has shifted its focus to mobile consumer apps and still publishes games while operating chat apps (TalkTalk), social network BeeTalk, payment app AirPay, and marketplace Shopee. The company calls itself "greater Southeast Asia's largest Internet and mobile platform company." It reported $300 million in gross revenue in 2015 and a compound annual growth rate of more than 90% over the prior five years. AirPay has an annualized gross transaction value run-rate of $330 million, making payments a material part of the business mix. Garena's prospects are tied to rapidly increasing mobile penetration across Southeast Asia, particularly in Indonesia and Malaysia. The company competes with other regional players, for example payments rivals MOLPay and Coda Payments.

Total raised

$170M

Funding rounds

2

Latest round

Series D

Latest activity

Mar 2016