With the launch of their US $120 million Series C+ fundraising round, fintech business SYNQA revealed that it has been renamed as Opn.
JIC Venture Growth Investments, MUFG Bank, and Mars Growth Capital were among the investors in the round. It raises the total amount raised to more over $222 million.
The cash will be used to continue building the firm and expanding into new geographies, according to a news release.
The company’s increased strategic strategy and worldwide goals were supported by the rebranding. Its goal is to “better represent the company’s strategic vision and ambitious purpose of allowing everyone to participate in the digital economy.”
The new name also emphasizes the company’s dedication to making payment easy and borderless for both individuals and companies, according to the corporation.
“We are extremely excited and proud to bring on board this high-quality investment, allowing us to accelerate the development of our core payment solutions, while also expanding into new territories within our core markets of Southeast Asia and Japan and beyond,” said Jun Hasegawa, CEO and Founder of Opn.
“As we approach 10 years since we started as a payment gateway company, and now customised fintech solutions to help businesses grow, we have continued to obsess over how to make payment ever more seamless for both businesses and the people they serve. Through our fintech solutions, we are realising our vision of enabling access to the digital economy for everyone.”
Opn is a Southeast Asian and Japanese company that specializes in online payment, blockchain technology for financial applications, and digital transformation solutions.
The Opn platform is powered by Omise Payment Holdings, a payment infrastructure sister business that offers one-stop online payment solutions.
SYNQA, Opn’s parent firm, was one of the first to get its business plan certified by Japan’s Ministry of Economy, Trade and Industry (METI) under a ministerial initiative that began in August 2021 and guarantees private-sector funding for deep-tech startup businesses.
Companies that have had their business plans authorized by METI are eligible to get loans from METI-approved private financial institutions under this scheme. The loans are backed by Japan’s Organization for Small and Medium Enterprises and Regional Innovation, which is part of the ministry (SMRJ).