M’sian fintech Soft Space raised $31.5 million in Series B1 funding
Soft Space Sdn Bhd (Soft Space), a Malaysian B2B fintech company, today announced that its recently closed Series B1 funding has raised USD 31.5 million in investment.
The funding round was led by Southern Capital Group (SCG) Pte. Ltd, with the participation of returning investors, such as Japanese companies transcosmos inc and JCB.
This was joined by Hibiscus Fund, a venture capital fund jointly managed by RHL Ventures and South Korea’s KB Investment.
According to the press release, the funds raised will be used to drive Soft Space’s continuous growth and expansion.
“The new funds build on our strong momentum and will help expand our global footprint and expand our customer base by accelerating the innovation of our full-stack payments platform while expanding into next-generation technology solutions,” said Joel Tay, CEO in Soft space.
Certified by major card schemes such as EMVCo and PCI DSS, the company’s fintech is secured and recognized globally.
“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,” said Chris Leong, Chief Strategy Officer of Soft Space.
“We are confident that Soft Space will continue to attract global investors and continue its ambition to create efficient services for our customers.”
Founded in 2012, Soft Space aims to simplify financial infrastructure and enable frictionless payments for customers in a simple but cost-effective way.
The company is known as one of the leading fintech players in the ASEAN region. The technology is being adopted by over 70 financial institutions and partners in Japan, Europe, Oceania and America.
Some of their more notable clients include Maybank, CIMB, Hong Leong Bank and Bank of New Zealand.
The company is currently focusing on expanding into omnichannel payments, including the use of artificial intelligence, QR code payments, e-wallet systems and money lending schemes.
Soft Space states that with this additional capital, it is well positioned to continue its growth trajectory and achieve its goal of making payment acceptance accessible and affordable.
- Read more about Soft Space here.
- Read more stories about other Malaysian startups we’ve written here.
Featured Image Credit: (Left to right) Wong Chin Toh (CEO of Southern Capital), Nicholas Lim (Chief Technology Officer of Soft Space), Kenneth Tan (CEO and Managing Partner of Southern Capital) and Joel Tay (CEO of Soft Space)) / Soft Space
