Opn Announces USD 120M Series C+ Funding Led by JIC VGI, MUFG Bank and Mars Growth

Published by Opn Team on May 10, 2022
2 min read

TOKYO – May 10, 2022 – Opn announced today that it raised a total of USD 120M in Series C+ funding from JIC Venture Growth Investments Co., Ltd.1 (“JIC VGI”), MUFG Bank, Ltd. (“MUFG Bank”)2 and Mars Growth Capital (“Mars Growth”)3.

This brings the total capital raised to over USD 222M to date, placing it in a robust position to continue developing its innovative services and products for people and businesses of all sizes.

Opn, the leading one-stop payment and embedded fintech solutions company from Southeast Asia and Japan, will utilize the funds to continue scaling its business and expanding into new geographies.

Capital raise

Jun Hasegawa, CEO and Founder of Opn, said: “We are extremely excited and proud to bring on board this high quality investment, allowing us to accelerate the development of our core payment solutions, while also expanding into new territories within our core markets of Southeast Asia and Japan and beyond. As we approach 10 years since we started as a payment gateway company, and now customized fintech solutions to help businesses grow, we have continued to obsess over how to make payment ever more seamless for both businesses and the people they serve. Through our fintech solutions, we are realizing our vision of enabling access to the digital economy for everyone.”

Along with the fundraising, Opn, previously under the brand SYNQA, announced today the launch of its corporate rebranding in order to support its expanded strategic vision and global aspirations. (Refer to press release titled: “SYNQA Rebrands to Opn to Support Strategic Vision and Accelerated Global Aspirations.”)

Opn’s parent company, SYNQA, is one of the first companies to receive certification for its business plan from the Japan’s Ministry of Economy, Trade and Industry (“METI”) through a ministerial program started in August 2021, which guarantees private sector loans for deep-tech venture companies4. Under this program, companies that have had their business plans approved by METI are able to receive loans from private financial institutions approved by the Minister of Economy, Trade and Industry. The loans are backed by METI's Organization for Small & Medium Enterprises and Regional Innovation of Japan (“SMRJ”).

About Opn

Opn, which was rebranded from SYNQA, is a company founded in 2013 with expertise in Asia. Opn specializes in online payment, blockchain technology for fintech applications and digital transformation solutions. Opn connects people, businesses and society in innovative ways that spread the wealth of financial opportunity and provide fair and open access to a growing economic ecosystem under its vision of enabling access to the digital economy for everyone. Opn is powered by its payment infrastructure sister company, Omise Payment Holdings, which provides one-stop online payment solutions. Its services are used by thousands of merchants and businesses around the world. Visit our website for more information: https://www.opn.ooo/

About JIC Venture Growth Investments (JIC VGI)

JIC VGI was established in July 2020 as a venture capital arm of JIC group. Its mission is to promote innovation and improve the international competitiveness of Japanese firms, all toward the broader goal of helping to solve Japan's social and industrial issues.

About the Organization for Small & Medium Enterprises and Regional Innovation of Japan (SMRJ)

SMRJ’s mission is to contribute to the development of Japan’s economy by promoting innovation and revitalization of local economies among small and medium-sized enterprises (SME) and venture companies that aim to develop and grow independently. To assist SMEs that are seeking to grow sustainably amid changes in the business environment, SMRJ provides direct assistance, human resource development, the management of mutual aid systems, financial support and sharing of business opportunities. SMRJ intends to cooperate with SMEs in improving the support it provides.

About MUFG Bank

MUFG Bank, Ltd. is Japan’s premier bank, with a global network spanning around 50 countries. Outside of Japan, the bank offers an extensive scope of commercial and investment banking products and services to businesses, governments and individuals worldwide. MUFG Bank’s parent, Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,500 locations in more than 50 countries. The Group has about 170,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit https://www.mufg.jp/english

About Mars Growth Capital

Mars Growth Capital is a joint venture debt fund between Liquidity Capital and Mitsubishi UFJ Financial Group that offers tech startups a one-of-a-kind funding alternative, enabling them to double down on their hyper-growth without giving up or diluting equity. Its trajectory-based funding model allows them to work with startups and growth-stage companies side-by-side, taking on financial risk which traditional financial institutions cannot take. For more information, visit https://www.marsgrowth.com/

  1. Refer to the JIC VGI website for further information: https://www.j-vgi.co.jp/#news
  2. Refer to the MUFG Bank website for further information: https://www.bk.mufg.jp/
  3. Refer to the Mars Growth website for further information: https://www.marsgrowth.com/
  4. Further information on the program can be found on the METI website at the following URL: https://www.meti.go.jp/policy/newbusiness/debtlps/tuika/zentaigaiyou.pdf (Japanese only)

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