According to the company the funding would be used to expand into new geographies and to support more payment methods, such as subscription billing for services like music or film streaming.
Coda Payments started out focused on Indonesia in 2013, but it has since expanded to cover Southeast Asia’s six most prominent markets: Singapore, Malaysia, Thailand, Vietnam, the Philippines and Indonesia. Next stop, according to the company, is Taiwan.
The company spent the last couple of years building out a whole range of feature to handle other alternative payments for customers. “Bank transfers, cash payments at retail stores, mobile wallets, bitcoin, pre-paid gaming cards, we aim to assemble these payment methods into one house,” claims the company.
Coda Payments has offices in Singapore and Jakarta, and representatives in San Francisco and Hong Kong.
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