Opn Valuation, Funding & Investors

Opn is valued at $1B as of May 2022.

See full Opn profile

Last Opn valuation

$1B

Series C · May 2022

Last Opn funding round

$120M

Series C · May 2022

Cumulative funding Opn raised

$220M

across 5 funding rounds

Key investors in Opn

  • East Ventures
  • SMDV
  • 500 Global
  • SMBC Venture Capital
  • SBI Investment
  • Golden Gate Ventures

Opn Overview

About Opn

Opn is a Bangkok-headquartered fintech platform, rebranded from SYNQA in 2022, delivering payment processing, blockchain solutions, and digital transformation services across Asia since 2013. Powered by Omise, it supports thousands of merchants with gateways for cards, wallets, and bank transfers. Opn enables embedded finance for platforms in e-commerce and ride-hailing.


Founded

2013

HQ

JapanTokyo

Website

opn.ooo

Status

Privately held

Customer focus

B2B

Revenue model

Commission

Valuation

$1B (May 2022)

Opn Valuation

Opn is currently valued at $1B, based on its Series C in May 2022.

The $120M round included MUFG, JIC Venture Growth Investments and Mars Growth Capital.

Opn valuation by funding round

Opn valuation by funding round
DateStageValuation
May 2022Series C$1B

Opn Funding History

Opn has raised a total of $220M across 5 funding rounds.

Opn's first fundraising round was a $300K seed round in August 2014. The most recent completed round was a $120M Series C in May 2022.

Opn funding rounds

Opn funding rounds
DateStageInvestorsRaisedValuationDeal Summary
May 2022Series CMUFG; JIC Venture Growth Investments; Mars Growth Capital$120M$1B-
Jun 2020Series CSCB 10X (lead); SPARX Group (lead); Toyota Financial Services; Aioi Nissay Dowa Insurance; Sumitomo Mitsui Trust Bank; SMBC Venture Capital$80M-Opn, operating as SYNQA (formerly Omise Holdings), is a Thailand-based fintech company focused on payment solutions, including gateways for acceptance, cross-border remittances, and blockchain-based transfers via subsidiaries like Omise. Founded in 2013 as Omise, it provides tools for merchants across Asia to accept payments and connect with global customers, supporting digital transformation in cashless economies. On June 22, 2020, SYNQA raised $80 million in a Series C funding round led by SCB 10X and SparX Group (through Mirai Creation Fund II), with participation from Aioi Nissay Dowa Insurance, Sumitomo Mitsui Banking Corporation, SMBC Venture Capital, Toyota Financial Services, and others. The funds aim to enhance enterprise solutions, expand services in Asia, bolster the Omise payment gateway with additional capabilities, and launch a new subsidiary for fintech transformation needs. Strategic partnerships with investors like SCB 10X will leverage SYNQA's technologies, such as open APIs and the OMG Network on Ethereum, for products including the Toyota Wallet App, accelerating ecosystem growth amid digital payment opportunities.
Jul 2016Series BSBI Investment (lead); Ascend Venture Group; SMDV; Golden Gate Ventures; EV Growth$18M--
May 2015Series ASMDV (lead); East Ventures; True Incube; 500 Global$3M--
Aug 2014SeedEast Ventures (lead)$300K--

Who has invested in Opn?

17 investors have backed Opn across its funding rounds, including East Ventures, SMDV, 500 Global, SMBC Venture Capital, SBI Investment and Golden Gate Ventures.

Lead investors include SCB 10X, SPARX Group, SBI Investment, SMDV and East Ventures.


Opn Investors

Investors in Opn by funding rounds participated
InvestorHQRoundsRoleFirst check
SMDVIndonesiaJakarta2LeadMay 2015
East VenturesIndonesiaJakarta2LeadAug 2014
SCB 10XThailandBangkok1LeadJun 2020
SPARX GroupJapanTokyo1LeadJun 2020
MUFGJapanTokyo1ParticipantMay 2022
Ascend Venture GroupUnited StatesNew York City, NY1ParticipantJul 2016
JIC Venture Growth InvestmentsJapanTokyo1ParticipantMay 2022
Toyota Financial ServicesUnited StatesCedar Rapids, IA1ParticipantJun 2020
SBI InvestmentJapanTokyo1LeadJul 2016
Aioi Nissay Dowa InsuranceJapanTokyo1ParticipantJun 2020
True IncubeThailandBangkok1ParticipantMay 2015
Golden Gate VenturesSingaporeSingapore1ParticipantJul 2016
EV GrowthSingaporeSingapore1ParticipantJul 2016

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Acquisitions by Opn

Opn has acquired 2 companies to date.

Last acquisition by Opn was on November 15th 2022. Opn acquired MerchantE for $360M.


Latest Acquisitions by Opn

MerchantE
Eventpop
Description
MerchantE is a Minneapolis-headquartered payments platform processing $17 billion annually for 13,000 mid-market B2B merchants across the U.S. It offers front-end gateways and back-end settlement with direct card brand connections for Visa and Mastercard. The full-stack solution includes tokenization and virtual cards, ranking it among the top 25 U.S. processors.
Eventpop is a Thailand-headquartered end-to-end platform for event discovery, ticketing, and management across Asia. The app enables users to browse concerts, marathons, and workshops in Bangkok, Singapore, and Manila with seamless mobile purchases and updates. Eventpop provides organizers with on-site check-in, customer support, and fulfillment services for festivals like Big Mountain Music Festival and corporate conferences.
HQ CountryUnited StatesThailand
HQ City
Alpharetta, GA
Bangkok
Deal Date15 Nov 202211 Aug 2021
Valuation$360Mundisclosed
EV/Revenue
EV/EBITDA

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Opn Competitors

Opn competitors include listed companies like Worldline and Fawry, and private ones like Mesh, PPRO, zerohash and Juspay.

Public and private companies comparable to Opn
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
MeshUnited StatesSan Francisco, CAPrivate--$1B-
PPROUnited KingdomLondonPrivate--$1B-
zerohashUnited StatesChicago, ILPrivate--$1B-
WorldlineFranceFrancePublicly listed$4.6B($5.2B)$887M0.7x
JuspayIndiaIndiaPrivate$55M-$1.2B19.7x
FawryEgyptEgyptPublicly listed$166M$73M$1.2B5.2x

Opn Public Comps

Opn is still privately-owned, but its public comps include Jiangsu Tongxingbao, Deluxe, Optasia, Worldline, HashKey Holdings, Cuscal, Isracard, BitGo Holdings, OSL Group and PicPay.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Jiangsu Tongxingbao$159M$47M2.7x-9.2x-
Deluxe$2.1B$379M1.2x1.2x6.7x5.6x
Optasia$265M$79M4.3x3.6x14.5x9.1x
Worldline$4.6B($5.2B)0.6x0.7x(0.6x)3.8x
HashKey Holdings$92M($109M)6.4x-(5.4x)-
Cuscal$297M$22M5.1x5.8x67.8x24.6x
Isracard$1.2B$48M1.9x-49.8x-
BitGo Holdings$16B($9M)0.1x5.5x(125.1x)125.4x

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Common questions about Opn

When was Opn founded?Opn was founded in 2013.
Where is Opn headquartered?Opn is headquartered in Tokyo, Japan.
Is Opn publicly listed?No, Opn is a private, VC-backed company.
What is Opn's valuation?Opn was last valued at $1B in its Series C in May 2022.
How much funding has Opn raised?Opn has raised $220M across 5 funding rounds.
What was Opn's last funding round?Opn's last funding round was a $120M Series C in May 2022.
Who are Opn's investors?Opn's investors include SMDV, East Ventures, SCB 10X, SPARX Group, MUFG, Ascend Venture Group, JIC Venture Growth Investments, Toyota Financial Services, SBI Investment, Aioi Nissay Dowa Insurance and 7 others.
Which companies are comparable to Opn?Companies comparable to Opn include Mesh, PPRO, zerohash, Worldline, Juspay and Fawry.
How many companies has Opn acquired?Opn has acquired 2 companies, including MerchantE and Eventpop.
What was the largest acquisition by Opn?The $360M acquisition of MerchantE in November 2022 is the largest acquisition Opn has made to date.

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