OPN (Originated Private Network) is a fintech startup that has been established in Thailand. The firm has a speed capability that helps people to access funds and make investments with ease. It has received a funding round that aims to expand the company.
Rebranding to OPN
The company is going to make waves in its home turf of Thailand, as well as Vietnam and Indonesia in coming years. For now, it has a small but talented team of nearly 500.
It’s an integrated fintech solution provider that specializes in the online payments space. Besides offering a payment platform, it also has an OmiseGo product – a crypto-token that’s based on the Ethereum network.
Omise is a one-stop payment platform that offers a variety of services to merchants and consumers. Opn has operations in Japan, Malaysia, Singapore, Indonesia, and Thailand. Among its most notable customers are BMW, True Group, McDonald’s, and Pomelo. Despite its small size, it has managed to garner an impressive following in its home market.
Using a bespoke, proprietary technology, it provides its merchants and consumers with an impressive range of services and tools. Currently, it serves more than 7,000 merchants in six countries.
In fact, Opn aspires to become a one-stop fintech solution provider for retailers and merchants in the region. As of this writing, it had an estimated total funding of USD 222 million.
Funding round
Having secured a $120 million funding round, Opn – formerly known as Synqa – is now one of the world’s five most valuable FinTech startups. Founded in 2013, the company offers payment solutions for businesses and consumers. It is backed by Toyota Motor, one of the leading car manufacturers in the world, and Japanese investor SMBC Venture Capital.
In an effort to expand its presence in Southeast Asia and Asia-Pacific, Opn will use its new capital to improve its technology stack. A key goal of the company is to offer a more robust platform for merchants in the region.
Having been registered in Tokyo, Japan, Opn has become a major player in the digital payment industry. Since founding the company in 2013, it has grown to serve more than 7,000 merchants worldwide.
The company also aims to provide access to financial services to everyone, including those without a bank account. According to CEO Jun Hasegawa, payments are the “human right”.
Opn is a fintech startup that focuses on online payment services. Its clients include McDonald’s, Toyota Motor and Thai duty-free retailer King Power. Currently, it is operating in Thailand, Japan and Singapore. However, it is planning to expand to Indonesia, Malaysia and Vietnam in the near future.
Fintech startup based in Thailand
Opn, formerly known as Synqa, is a fintech startup based in Bangkok. Its technology secures payments across all sales channels. The company has a team of industry experts and has already been used by thousands of merchants throughout the world.
Founded in 2013, Opn enables commerce through a range of payment experiences embedded into the company’s website. Their clients include McDonald’s and Toyota Motor, as well as Thai duty-free giant King Power and hospitality giant Minor International.
As of April 2019, Opn has over 7,000 merchants. They serve both B2C and B2B customers. In addition, the company is powered by Omise Payment Holdings, a Japan-based company that runs an Ethereum-based money transfer network called the OMG Network.
Earlier this year, Opn raised a US$120 million Series C+ funding round. This will enable the company to expand its product line and to explore Southeast Asia. Aioi Nissay Dowa Insurance Corporation, Tokyo-listed asset manager Sparx Group, and Mars Growth Capital participated in the round.
