Synqa founder and group CEO Jun Hasegawa
Synqa Group (formerly Omise Holdings), a blockchain-powered fintech company based in Thailand, announced today it has agreed to acquire a majority stake in Eventpop, an online platform for event creators in the country.
While neither of the companies officially disclosed the transaction details, a well-placed source told e27 that the amount is 8-digit USD.
“Synqa does not disclose the acquisition price, but the price is eight digit USD,” the person said on the condition of anonymity. “Early-stage investors got more than 5x returns. The late-stage investors also got some returns.”
We are contacting Synqa as well as Eventpop for more details, and will update this article as and when we hear from them.
As per a statement, Synqa believes Eventpop can help further its group vision of providing access to financial products for everyone across the globe, allowing it to reach users in new creative ways. EventPop is one of the top customers of Synqa payment gateway (Omise).
The two firms had earlier collaborated to develop an omnichannel e-commerce platform that focuses on digitising operational processes and providing a solution where business users can offer products to customers seamlessly. The product is slated to launch by the end of the year.
“Our relationship with Eventpop goes way back when we first started our payment businesses. In the past few years, we have been partnering with Eventpop, working on projects together. By collaborating on previous projects, we could have a deeper understanding of each other’s strengths. By combining forces, I believe we can grow to become a stronger company,” said Jun Hasegawa, founder and CEO of Synqa.
Started in 2015, Eventpop has developed an end-to-end digital ticketing and event management platform. It enables organisations to provide a range of services, including customising web pages for events, digital and physical ticketing, and event check-in tools. Organisers can also use its analytics tools to manage their events more efficiently.
Also Read: Synqa lands US$80M in Series C funding round led by SCB 10X, SPARX Group
The event industry was one of the hardest hit due to the COVID-19 pandemic. To continue to scale the business during these difficult times, Eventpop expanded into new sectors that would allow it to leverage its existing technologies, such as 020 solutions and platform user experience specialisation, bringing innovative approaches to new industries.
Since its inception, Eventpop has secured US$2.5 million in funding from five investors, including KK Fund and InVent. It includes a US$2 million Series A in September 2017.
Eventpop’s business as an event platform provider will continue to grow under Synqa, strengthening its platform capabilities to prepare as the world slowly returns to normal.
A demand for a multifaceted experience will increase, requiring innovative solutions to provide an excellent customer experience. By joining forces, Eventpop will further solidify its position as an event platform provider and Synqa to grow its product ecosystem.
Founded in 2015, Synqa specialises in online payments and blockchain technology for fintech applications. As of June last year, the company had more than 140 employees spread across offices in Bangkok, Tokyo, Singapore, and Jakarta.
A year ago, Synqa raised US$80 million in a Series C funding round, led by SCB 10X and SPARX Group. The round also saw participation from Toyota Financial Services Corporation, Sumitomo Mitsui Banking Corporation, SMBC Venture Capital, Aioi Nissay Dowa Insurance Corporation and other investors.
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Image Credit: Synqa
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