Japan’s Opn Payments Firm Secures $40m to Boost Asia Growth
May 27, 2022 3:00 AM
Opn, a global fintech company headquartered in Japan, has secured $40 million in growth funding from US-based fund manager Liquidity Capital.
Founded in 2013, Opn offers a digital payment system to merchants, enterprises, and financial institutions in Japan and Southeast Asia using blockchain technology.
The Tokyo-based payments unicorn has raised a total of $120 million so it can challenge payment giants such as Square, Stripe & PayPay.
Opn said it hopes to benefit from Asia’s move away from cash, accelerated by the Covid-19 pandemic.
The $40 million funding from Liquidity will accelerate expansion plans for opportunities across the Asia-Pacific region, the company said.
“This high-quality investment [allows] 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,” said Jun Hasegawa, Opn founder and chief executive.