Miguel Cordon · · 1 min readSoft Space enters capital partnership with Japanese payment firm ahead of series C raise
GMO Financial Gate CEO Kentaro Sugiyama (left) and Soft Space CEO Joel Tay Jin Ghee / Photo credit: Soft Space
Malaysian fintech firm Soft Space has raised new capital through a partnership with GMO Financial Gate, a Japanese payments major and longtime partner of Soft Space.
This collaboration is a precursor to the Malaysian firm’s upcoming series C funding round and is aimed at advancing the adoption of cashless payments in Japan.
The partnership also follows Soft Space’s US$31.5 million series B1 round in April last year. At the time, the company said it had almost doubled its revenue from 2021.
The previous raise included a US$5 million commitment from Japanese financial services firm JCB, which allowed Soft Space to link Japanese customers to Southeast Asia.
“Our ability to deploy rapidly from Malaysia to Japan and beyond showcases our agility and market readiness,” said Joel Tay, CEO of Soft Space.
The company was founded in 2012 and has since grown to serve over 90 financial institutions and partners across 30 global markets. According to Tech in Asia data, the company has secured a total of US$36.5 million in disclosed funding to date.
See also: Recognized by Malaysia’s prime minister, this fintech firm is looking to go beyond SMEs
Editing by Jaclyn Tiu
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