Opn raised $120 million to expand their business. In a Series C+ financing round, it was officially known as Synqa. They are a rare unicorn in Japan’s start-up world. Their valuation is more than $1B in Japan, Asia’s largest developing country. Many feel that Japan is part of European culture in its ability to take a fast ride to development. The Series raised huge funds for Opn, a Tokyo-based start up also known as Synqa.
They were able to raise funds from Mitsubishi UFJ Financial Group which is a government-backed investment wing. Opn does have its registered headquarters in Tokyo, Japan, however they do have their operationalheadquarters in Bangkok, Thailand. Opn plans to improve the platform and expand in Southeast Asia with the funding. This has helped digital payments grow more efficiently. Opn is now a leader in this field. Opn’s ability to attract investment from the government speaks volumes about its creativity and growth. They also plan to invest in Japan where the government uses digital transformation very well.
Start-up starting from Tokyo Opn, Synqarasises 120m Series at 1b USD vlauationNussey Reuters
Opn has the potential to grow as they seek to improve cross-border payments. Jun Hasegawa is founder and chief executive of Opn. He said: “They need one-stop solutions!” That’s what we can offer.” This speaks volumes about Hasegawa’s creative mind and his ability to think creatively. This tells a lot about Opn and their goal to move forward. After putting a creative spin on Southeast Asia, he believes they can expand the market to North America and Europe where there is more competition.
When Hasegawa returned from his trip to Japan, he met co-founder Ezra Don Harinsut. They have been able to create a plan together and move forward in the best possible way. In 2013, they began to work together. It’s been quite a while. Using the innovative approach of both, Opn is now the largest player in the digital payment industry within its circle. It has caused a lot of buzz in the countries that have digital payments. This makes it easier to do business and helps to reduce black money. It has also made things more efficient. Opn also has Siam Commercial Bank and Toyota Motor Corp as investors. This shows the depth of their roots when it comes to backing a well-known start-up.
