Coda Payments, a Singapore, Asia-based alternative payment solutions provider, raised $2m in funding.
Backers included IMJ Investment Partners and others including existing investors GMO Global Payment Fund, Toivo Annus, and Golden Gate Ventures.
The company intends to use the funds to expand geographically and add capabilities to Codapay and Codashop.
Led by Neil Davidson, CEO, Coda Payments provides digital content providers including Baidu, Alibaba’s UCWeb, Kunlun, Garena, and dozens of other game developers with a multichannel online payment gateway called Codapay to accept payments in Indonesia, Malaysia, Philippines, Thailand, and Singapore using direct carrier billing, bank transfers, cash payments at convenience stores, and physical vouchers. The company has direct commercial and technical interfaces with telcos including Telkomsel, Indosat Ooredoo, XL Axiata, Hutchison Tri Indonesia, Singtel, M1, StarHub, Maxis, DiGi, Globe, and Smart, and works with convenience stores like 7-Eleven, voucher issuers like True Money, and e-wallet providers like Doku Wallet.
Coda Payments also provides Codashop, a consumer-facing gift code distribution platform.