# Coda Payments Pte

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/coda-payments-pte

- Industry: Software
- Headquarters: Singapore, Singapore
- Website: www.codapayments.com
- Total disclosed funding: $85M
- Latest round: Series C (Apr 13, 2022)
- Investors on record: 11

## About

Coda Payments Pte Ltd. specializes in providing comprehensive payment solutions, enabling publishers to monetize digital content effectively through a customizable web store and a wide range of payment methods.Founded in 2011 and headquartered in Singapore, Coda Payments Pte Ltd. functions as a Merchant of Record, facilitating transactions for digital goods across various sectors. In July 2025, Coda Payments Pte Ltd. a portfolio company of Smash Capital, Insight Partners, GIC, Ta Activity Singapore Private Ltd., Apis Partners, Rakuten Capital, Golden Gate Ventures, GMO VenturePartners, Spiral Ventures, CyberAgent Capital and Accion, agreed to acquire Recharge.com International B.V. from Smartfin, Prime Ventures, Kreos Capital and Committed Capital. Financial terms were not disclosed. The founder, Bobby Choi, has a history of entrepreneurial ventures, although specific details about other companies he founded are not available.Coda Payments Pte. Ltd. operates as a Merchant of Record, providing comprehensive payment solutions that enable publishers to monetize digital content through a customizable web store. The company offers a suite of services including Codapay, which integrates over 400 payment methods, allowing clients to cater to diverse markets globally. Coda serves a wide array of clients ranging from gaming developers to app publishers, facilitating transactions for digital goods such as in-game currencies, subscriptions, and content bundles. Its offerings are designed to enhance revenue generation across more than 70 markets, notably in regions including Southeast Asia, Latin America, and Europe. By streamlining compliance and risk management associated with cross-border transactions, Coda empowers its clients to expand their reach effortlessly while addressing the specific needs of end users seeking accessible payment options.Coda Payments generated revenue of USD 169,142,203 in the most recent year, 2023. The company reported an EBITDA of USD -22,557,090 for the same period. Coda Payments primarily earns revenue through transaction fees from its payment processing services, leveraging its extensive network to facilitate business transactions for clients like game publishers and app developers. This revenue model is driven by a percentage of each transaction processed, varying by payment method. Partnerships with over 300 publishers enhance Coda’s revenue potential through collaborative marketing and distribution strategies across the global marketplace.In April 2022, Coda Payments Pte Ltd. raised USD 76.8 mn in Series C funding to bolster its international expansion efforts. The company aims to enter new markets by leveraging the recent funding to enhance its product offerings and develop more efficient payment solutions for a wider range of digital content providers. Specific targeted regions for expansion have not been detailed, but the strategy is to reach more global markets, thereby increasing the company's footprint and client base effectively.

## Funding rounds

- Series C, Apr 13, 2022, $77M — Insight Partners, GIC, Smash Capital
- Series B, Feb 11, 2022, $1.5M — Apis Partners, Ta Activity Singapore Private Ltd.
- Series A, Nov 22, 2019, $1.6M — Apis Partners, Ta Activity Singapore Private Ltd.
- Series A, Apr 22, 2019, $0.8M — Golden Gate Ventures, GMO VenturePartners, Rakuten Capital, Ta Activity Singapore Private Ltd.
- Series A, Aug 5, 2016, $1.5M — Golden Gate Ventures, GMO VenturePartners, Spiral Ventures, Ta Activity Singapore Private Ltd.
- Seed, Nov 29, 2013, $1.5M — CyberAgent Capital, Golden Gate Ventures, GMO VenturePartners, Rakuten Capital, Ta Activity Singapore Private Ltd.
- Seed, Jun 1, 2013, $0.9M — Golden Gate Ventures
- Seed, May 7, 2013 — Accion

## Investors

- Accion (https://capitalatlas.ai/funds/accion) — Seed
- Golden Gate Ventures (https://capitalatlas.ai/funds/golden-gate-ventures) — Seed, Series A
- CyberAgent Capital (https://capitalatlas.ai/funds/cyberagent-capital) — Seed
- GMO VenturePartners (https://capitalatlas.ai/funds/gmo-venturepartners) — Seed, Series A
- Rakuten Capital (https://capitalatlas.ai/funds/rakuten-capital) — Seed, Series A
- Ta Activity Singapore Private Ltd. — Seed, Series A, Series B
- Spiral Ventures (https://capitalatlas.ai/funds/spiral-ventures) — Series A
- Apis Partners (https://capitalatlas.ai/funds/apis-partners) — Series A, Series B
- Insight Partners (https://capitalatlas.ai/funds/insight-partners) — Series C
- GIC — Series C
- Smash Capital (https://capitalatlas.ai/funds/smash-capital) — Series C