Home Crypto News Omise Network Holding Company SYNQA Raises $80M in Series C Round

Omise Network Holding Company SYNQA Raises $80M in Series C Round

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SYNQA, Omise’s Thailand-based guardian firm, introduced on June 22nd that it has raised $80 million in a Series C funding spherical. Omise is the agency answerable for the creation of Omise and the OMG Network, an Ethereum-based cryptocurrency asset and worth switch community previously often called OmiseGO.

According to an announcement on SYNQA’s web site, the spherical was led by SCB 10X and SPARX Group. Among others, Toyota Financial Services Corporation, SMBC Venture Capital (SMBCVC), Aioi Nissay Dowa Insurance Corporation (ADI), and Sumitomo Mitsui Banking Corporation additionally participated.

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SYNQA claims that Omise, its subsidiary firm, has been “leading the payment gateway business” in Asia since 2013

SYNQA, which was previously often called Omise Holdings, says that it’ll use the cash to “deepen its footprint in the cashless societies in Asia.”

The announcement of the fundraising defined that in occasions when social distancing is critical, cost gateways and different items of fintech infrastructure are extremely vital instruments for “day-to-day- financial transactions.”

Jun Hasegawa, founder and chief government of SYNQA, additionally commented that he sees “a variety of alternatives in accelerating digital funds and digital transformation for enterprises

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“This funding will speed up the event of high quality services and products by our subsidiaries to higher join folks, companies, and society. I strongly imagine applied sciences and innovation are essential to constructing a extra accessible monetary infrastructure,” he stated.

Jun Hasegawa, founder and CEO of SYNQA.

SYNQA claims that Omise, its subsidiary firm, has been “leading the payment gateway business” in Asia since 2013. According to the announcement, the funding raised in this Series C spherical “will allow Omise to add more capabilities to their services and technology stack to enhance the value proposition to merchants and businesses in Asia.”

The announcement additionally defined that the funding spherical solidifies partnerships between SYNQA and SCB 10X, SPARX, TFS, SMBC, SMBCVC, and ADI and their use of SYNQA subsidiaries’ applied sciences, together with Omise and the OMG Network.

The value of OMG tokens has maintained ranges between the $1.60-$1.90 vary since May 23rd, 2020, when it reached a short lived peak of $1.93. For a lot of the 12 months previous that time, OMG fluctuated between $0.76 and $1.30, bottoming out at $0.41 in March of this 12 months.

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