Malaysian financial startup, Soft Space has raised USD31.5 million in its latest funding round with Southern Capital Group Pte Ltd, leading the funding round and participation from returning investor transcosmos Inc., strategic investor JCB, and venture capital fund Hibiscus Fund, jointly managed by RHL Ventures and South Korea’s KB Investment. The funds raised it said will be used to fuel the company’s continued growth and expansion.
“Building on our strong momentum, the new funds will help expand our global footprint and widen our customer base by accelerating the innovation of our full-stack payments platform while expanding into next generation technological solutions,” said Soft Space Chief Executive Officer Joel Tay.
Soft Space has shown strong growth in recent years with revenue almost doubling in the last 2 years. Now, Soft Space’s full stack payment services are being used by more than 70 financial institutions and partners in Japan, Europe, Oceania and Americas.
“With the closing of this round, we are restructuring Soft Space’s capital base to catapult the company towards high growth and strengthen our global market position, and we are confident that Soft Space will continue to attract global investors and further its ambition of creating impactful services for our clients.” said Soft Space Chief Strategy Officer Chris Leong.
Founded in 2012, Soft Space’s goal is to simplify the complexity of financial infrastructure and enable frictionless payments for customers in a simple and cost-effective manner. With the additional capital from this funding round, the company is well positioned to continue its growth trajectory and achieve its goal of making payment acceptance accessible and affordable.