Soft Space takes $5m to enter Japanese market

Malaysian payments provider Soft Space has raised $5m in a Series A round from Japanese e-commerce solution Transcosmos.

The company will use the strategic investment to expand into the Japanese market.

The Kuala Lumpur-based business offers a white label mobile point-of-sale solution to banks and merchants as well as other online payment services.

It says it has shipped more than 180,000 of its mobile point-of-sale devices to banks around the region since it was founded in 2012.

Soft Space currently operates across Malaysia, Indonesia, Thailand, Singapore, Vietnam, the Philippines, Australia and New Zealand.

The company is partnered with more than 20 financial institutions around the region but aims to acquire licenses across its core markets to enable it to move away from it partners.

Soft Space will also work with Transcosmos and existing partners such as Sumitomo Mitsui Card Corporation to help them move into South-East Asian markets.

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