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Today’s top tech news: Coda Payments raises US$20M+, Volt14 raises US$955K

Coda Payments raises more than US$20 million – Press Release

Singapore-headquartered fintech company Coda Payments today announced that it has raised a more than US$20 million funding round led by Apis Partners, a private equity asset manager that backs growth-stage financial services and financial infrastructure businesses in Asia and Africa.

As part of this transaction, Apis and one of Coda’s existing angel investors Toivo Annus acquired shares from several of Coda’s seed-stage investors.

“We are delighted to partner with the Apis team, whose deep knowledge of the payments landscape in emerging markets will be invaluable as we grow our geographic footprint and product range to better meet the needs of our clients,” Coda Payments CEO Philippe Limes said in a press statement.

Since it began processing transactions in 2013, Coda said that it has tripled the total value of payments that it processes every year on average; customers now initiate up to 3.6 million transactions/day on Coda’s platform.

The company helps Tencent, Garena, Netflix, and other publishers monetise games and other digital content in more than twenty emerging markets.

Hong Kong-based Volt14 raises US$955K – Press Release

Hong Kong-based battery nanomaterial startup Volt14 today announced an S$1.3 million (US$955,000) seed funding round led by 500 Startups, HKSTP Ventures and Entrepreneur First.

The startup develops a novel material to replace existing graphite in Li-ion batteries, which aims to increase the energy stored in the cells by up to 70 per cent.

Since Li-ion batteries are used in phones, laptops and electric cars, the startup said that it effectively results in cars or smartphones having 60-80 per cent additional power stored after every full charge.

Volt14 plans to use the funding to further refine their material for consistent mass-production, and to support the production trials they have with battery cell manufacturers in the pipeline.

Also Read: Coda Payments announces new round of funding from IMJ Investment Partners and others

Uber’s chief product officer steps down – TechCrunch

Uber Chief Product Officer Manik Gupta announced that he is leaving the company, with his last day being December 13, TechCrunch reported.

His resignation was announced in a note to the company’s product team.

Gupta later spoke to TechCrunch that he felt “now is a good time” for him to take a break to be with his family before embarking on a new plan.

NIUM expands to Brazil with new partnership – Press Release

NIUM, the digital cross-border payments platform formerly known as InstaREM, today announced a partnership with Brazillian foreign exchange broker Frente Corretora de Câmbio that marks its entry to the Latin American market.

To start with, NIUM will conduct outbound money transfers to the US for Frente’s clients and will extend its services to other countries including Japan, Australia, and Canada soon.

Initially, the partnership will serve retail customers, and the service will be extended to the corporate and SME customers in the near future.

“Brazil is an important market for NIUM, and with Frente partnership, we are looking to expand our presence in Latin America,” said Prajit Nanu, co-founder and CEO of NIUM.

Want to learn more about fintech in Malaysia? Get the e27 Malaysia Fintech Ecosystem Report 2019 here.

 

Image Credit: Swapnil Bapat on Unsplash

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