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HomeFunding Malaysian-based fintech firm Soft Space secures new funding

[Funding Alert] Malaysian-based fintech firm Soft Space secures new funding

GMO Financial Gate, a significant Japanese payments company and Soft Space's longstanding partner, the Malaysian fintech company has acquired more funding.

GMO Financial Gate, a significant Japanese payments company and Soft Space’s longstanding partner, the Malaysian fintech company has acquired more funding.

This partnership aims to accelerate Japan’s adoption of cashless payments and serves as a forerunner to the Malaysian company’s next series C fundraising round.

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The collaboration comes after Soft Space’s April 2017 US$31.5 million series B1 investment. The business claimed at the time that its income from 2021 had nearly doubled.

Soft Space was able to connect Japanese clients with Southeast Asia through the previous round, which included a US$5 million commitment from Japanese financial services company JCB.

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Joel Tay, CEO of Soft Space, stated, “Our ability to deploy from Malaysia to Japan and beyond showcases our agility and market readiness.”

Since its founding in 2012, the business has expanded to provide services to more than 90 financial institutions and partners in 30 different countries. Based on data from Tech in Asia, the company has raised $36.5 million in announced capital so far.

About GMO Financial Gate

GMO Financial Gate, Inc. develops and manufactures transaction management systems. The Company produces and sells cashless payment systems and equipment. GMO Financial Gate provides its services throughout Japan.

About Soft Space

Soft Space simplifies the complexity of financial infrastructure, provide intelligence to grow and bring partners together in an ecosystem all of which is aimed at reshaping finance.

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