SoftBank Ventures Asia backs Korea's payment technology company CHAI in $60 Million Series B
Round led by Hanwha Investment & Securities to fuel global expansion of Fintech-as-a-Service platform
SEOUL, South Korea, Dec. 11, 2020 /PRNewswire/ -- CHAI, one of the fastest growing payment technology companies in Korea, announced today a $60 million Series B financing round led by Korean conglomerate Hanwha Investment & Securities, with participation from SoftBank Ventures Asia, SK Networks, Aarden Partners, Hashed and other strategic partners. This round follows a $15 million Series A from February 2020, making the total investment in CHAI $75 million.
With the global digital payments market forecast to reach $10 trillion by 2026, this round of funding sets up CHAI to meet the rising demand for businesses to move online. CHAI offers the easiest and most efficient way for online businesses to start accepting payments through its B2B service I'mport. I'mport tackles the fragmented payments market by providing a single, unified API that enables e-commerce businesses to choose from a comprehensive set of over 20 different payment options, ranging from credit cards, digital wallets and wire transfer. Hailed as the simplest and highly programmable solution by developers, I'mport currently serves over 2,200 merchants including global brands such as Nike Korea and Philip Morris Korea.