This article is about bangkokbased 120m series c 1b nusseyreuters. A company named Opn has announced that it has raised 80 million dollars from a Thai lender. The new funding round was led by Siam Commercial Bank, and will be used to develop a 120-meter superyacht based in Bangkok.
Siam Commercial Bank led the Series C funding round
Siam Commercial Bank Pcl (SCB) is a Thailand-based bank that has played an important role in the nation’s economy. In addition to being one of the country’s largest lenders, SCB is also Thailand’s largest ATM network. This year, the bank has set a budget of 15 percent of its profit for technology investments. That will be more than double the percentage it allocated last year.
As part of its investment in technology, SCB has invested in U.S.-based blockchain firm Ripple, Indonesian ride-hailing app Go-Jek, and Thai fintech company SYNQA. Founded in 2013, SYNQA is known for its Omise payment solutions, and it recently raised an $80 million round. Its funding will help the company accelerate the development of its quality products and services.
Siam Commercial Bank’s venture capital arm, SCB 10X, has also launched a $50 million fund to invest in startups based on digital assets, such as blockchain, decentralized finance, and next-generation financial services. The investment will focus on early- and growth-stage companies, with a particular Based emphasis on digital asset startups.
Other investors include Japanese investment firms Sumitomo Mitsui Banking Corp and Toyota Financial Services Corp. Last year, SCB also invested in Indonesian fintech company Akulaku. During its Series E funding round, the firm was valued at between US$1.5 billion and US$2 billion.
As part of its transformation, SCB is also planning to increase the amount of money it spends on technology, with an emphasis on big data and staff. It expects to complete its transformation in two to three years. These initiatives are expected to boost long-term growth in branch networks Based, retail product development, and technology. They will also expand the bank’s competitiveness. Ultimately, the bank hopes to be the most respected bank in the nation.
SCB’s $50 million venture fund will focus on investing in global startups specializing in decentralized financial services and next-generation digital systems. Specifically, the fund will look to invest in startups developing digital asset startups, blockchain-based startups, and early- and growth-stage startups specializing in next-generation financial services.
Opn raised $80 million from the Thai lender
The Overseas Private Investment Corporation (OPIC) has announced that it has raised US$80 million from the Thai lender, OPIC-Thai Asset Management Corporation. This funding will be used to fund projects in clean energy, financial services and other emerging markets.
The OPIC-backed projects will also include a number of clean energy projects, including 51 solar power plants that are expected to generate 520MW. In addition to generating clean energy Based, the project is expected to reduce CO2 emissions by a considerable amount, thereby reducing Thailand’s carbon footprint. OPIC has a mandate to invest in clean energy projects in developing nations. It has six new private equity funds on the books.
One of the more interesting aspects of the OPIC-backed project is the way in which it will help the Thai government implement its ambitious financial reforms. Among other things, the OPIC has the capacity to press creditors to the negotiating table, provide technical assistance and leases, and assist with debt restructuring and other debt-related activities.
Moreover, the OPIC-funded projects are part of the broader Thai Government’s plan to address the country’s economic problems, which includes the ambitious goal of creating a digital economy with a total GDP of US$2 trillion by the year 2020. A key component of the government’s plan is the development of a strong financial system to finance Thailand’s growth. As a result of its successful implementation, the country is positioned to become a more stable, secure and prosperous economy. For example, Thailand is part of the Asia/Pacific Group against Money Laundering.
Synqa is the shortest superyacht ever built
In the realm of the superyachts, Synqa is a 120 meter vessel designed by Gary Grant and built by Miura Boats. Designed for a Japanese client, the vessel is also based in Tokyo and is packed with features to make it a worthy contender in the superyacht game. The boat is a well thought out example of the finer points of naval architecture. It boasts a surprisingly extensive list of amenities for a ship of this size, including two helipads, a gym, golf training facility and a 25 meter swimming pool.
Not a lot of superyachts have the honors of being the first to break the 100 metre barrier. This includes the infamous Flying Fox which measures 136 meters in length. Another notable yacht is the Dilbar which is a 156 meter luxury ship designed by Espen Oino and Espen Oei and delivered by Lurssen in 2016. It is the world’s largest superyacht and is touted as a luxury superyacht. Among the highlights of this vessel are a golf training facility, a 25 meter swimming pool and a whopping 100 crew members.
Synqa is based in Thailand
Synqa is a Thailand-based fintech startup that provides one-stop online payment solutions to businesses. The company’s core product is a decentralized financial network that uses blockchain technology.
SYNQA has more than 140 employees as of June last year. Its services are offered to companies across the Southeast Asian region, including Singapore, Malaysia, Indonesia and Vietnam. Among its clients are retail and hospitality giants like McDonald’s and Minor International.
In September 2017, the company raised a Series A funding round of US$2 million from five investors. Now, it has a controlling stake in Eventpop, an event-creator platform provider in Thailand. This deal is expected to expand the group’s presence in the local market.
The company recently secured a payment facilitating services license from the Bank of Thailand. With this license, it can provide the technology and expertise required to improve customer service experience.
As part of its growth plan, Synqa plans to enter Vietnam and Indonesia in the next two years. Currently, it has offices in Bangkok and Tokyo.
Using its latest funding, Synqa plans to expand its product ecosystem and develop quality products. The company is looking to build a multi-dimensional experience that will appeal to a wider audience.
Previously known as Omise, Synqa specializes in the development of payment gateways. Since its founding in 2013, it has expanded into different countries in Asia. While based in Bangkok, it also has branches in Tokyo, Singapore and Jakarta.
The company aims to increase its assets under management to US$3 billion by 2023. It is a leading Thai FinTech firm that offers investment and wealth management products. Recently, the company raised a Series B funding round of $13.5 million.
With its expansion into new markets and business verticals, Synqa is aiming to become the first unicorn in Thailand. According to reports, its funding round will give the startup a stronger foothold in the Fintech space and bolster its ability to develop high-quality services. Also, the company is looking to explore the use of open APIs and the OMG Network.
In addition, the startup has plans to establish an omnichannel E-Commerce platform that will help business owners offer their products and services to customers easily.
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