Miguel Cordon · · 1 min readPayments firm Opn enters the US with commerce platform acquisition
Asian payments company Opn has acquired digital commerce platform MerchantE, marking its entry into the US.
The company did not provide any financial details of the deal.
Opn founder and group CEO Jun Hasegawa / Photo credit: Opn
MerchantE offers payment processing services to medium-sized and enterprise businesses. Its full-stack platform also has direct connectivity to major card brands.
Opn and MerchantE have collectively processed over US$19 billion in payments for over 20,000 businesses this year. The acquisition in turn makes Opn a payments leader in Asia Pacific and a top 25 player in the US, it said in a statement.
Previously known as Omise, Opn was founded in 2013 by Jun Hasegawa, who also serves as the company’s CEO. Some of the company’s major shareholders include SCB 10X and Toyota Financial Services – the financial services arm of Toyota Motor Corporation.
See also: Demystifying Omise parent Synqa’s plans to disrupt payment networks
The company rebranded to Opn earlier this year after securing US$120 million in a series C+ round, which brought its total funds raised to US$222 million.
Editing by Lorenzo Kyle Subido
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