Coda Payments is a payment processing firm that provides digital content providers alternative payment methods and helps them monetise games and digital contents. Coda's clients include some of the largest tech giants such as streaming service provider Netflix, Singapore gaming and e-commerce titan Garena, and leading Chinese game publisher Tencent. It has a strong presence in Southeast Asia therefore helps its tech clients to expand their reach to emerging markets such as India, Myanmar, Laos and Cambodia. Japan's largest e-commerce merchant Rakuten is also an investor of Coda Payments.
Apis Partners' investment, through Apis Growth Fund II, will allow Coda Payments to leverage on the PE firm’s expertise in the payment industry.
Lead partner Waltter Kulvik comments: "We are delighted to advise Coda Payments on the transaction. Apis Partners' investment reflects their confidence in Coda and its leadership team and the growth potential in the Southeast Asia market."
The Ashurst team was led by Waltter Kulvik, supported by partner Michelle Phang, counsel Cheryl Ang (ADTLaw), associates Zak Worrall, Vanessa Teo (ADTLaw) and Brian Ng.