Malaysia’s Soft Space closes $31.5m round for global expansion

Southern Capital and Soft Space team / Photo credit: Soft Space

Despite the current tech downturn, fintech firm Soft Space said its revenue has almost doubled in the past two years.

The software point-of-sale company claimed that 70 financial institutions and partners in Japan, Europe, Oceania, and the Americas use its full-stack payments platform.

To support its global expansion, Soft Space recently closed its US$31.5 million series B1 round led by Southern Capital Group, a private equity firm operating in Singapore and Kuala Lumpur.

Funding details

• Funding amount: US$31,500,000
• Lead investor: Southern Capital Group
• Other investors: Transcosmos, JCB, Hibiscus Fund, RHL Ventures, KB Investment
• Stage: Series B1

This round includes last year’s US$5 million injection by JCB, the international payment giant, as part of a partnership.

Tapping into the Malaysia-based company enabled JCB to better link Japanese customers to Southeast Asia, both sides said at the time.

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