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Mobile Payments

Origami bags USD 67 mln Series C for global push

Monday 24 September 2018 | 01:30 PM CET

Japan-based mobile payments company Origami has landed a USD 66.6 million Series C investment round to boost its cashless transactions as well as build a greater global presence.

Investors participating in the financing include SBI Investment, Toyota Finance, Shinkin Central Bank, Union Pay International, Credit Saison, Nihon Unisys, JCB, The Ogaki Kyoritsu Bank, Mitsui Sumitomo Card Company and DG Lab Fund (run by Daiwa Ventures).

With this latest deal, the total funding into Origami has reached USD 88 million. The company, founded in 2012, said it will use the proceeds to continue hiring global talent, strengthening product development and business expansion across multiple verticals.

Under the capital and business alliance with UnionPay International, Origami Pay will be accepted at approximately 7.5 million UnionPay QR code-enabled outlets by the first quarter of 2019. Thus, its service will be available in 24 countries across APAC, North America, Central Asia, Middle East and Africa.

In Japan, Origami will make it possible to use UnionPay’s QR settlement at the company’s partner stores. In addition, the Japanese fintech company will also cooperate with Taiwan’s payment service provider JKOS Network to allow JKOPAY users and Taiwanese visitors to proceed transactions at all Origami partner shops in Japan.

Earlier in 2018, Origami forged a collaboration with Credit Saison to serve the financial services group’s card holders. Origami said it was also in talks with partner companies of its Series C investors to make its services available through their platforms.

More: Link
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