SINGAPORE (BLOOMBERG) – Singapore-based Coda Payments is nearing a deal to elevate non-public funds at about US$2.5 billion (S$3.4 billion) valuation, in accordance to individuals accustomed to the matter.
The on-line fee processing firm is poised to announce a recent fund-raising deal to gasoline progress plans as early as this week, the individuals said, asking not to be recognized as a result of the discussions are non-public. Investors together with non-public fairness companies Advent International and Primavera Capital are contemplating taking part within the spherical, the individuals said.
Coda has been working with Goldman Sachs on a strategic assessment of choices, together with a possible sale of the enterprise, an preliminary public providing and a non-public spherical, Bloomberg News reported in November. The firm was looking for a valuation of at least US$4 billion, individuals accustomed to the matter said at the time.
Considerations are ongoing and particulars such because the value and potential buyers may nonetheless change, the individuals said. Representatives for Coda, Advent and Primavera didn’t instantly reply to requests for remark.
Founded in 2011, Coda supplies on-line fee options to digital content material suppliers in additional than 30 markets, in accordance to its web site. Its buyers embody London-based non-public fairness agency Apis Partners and Japan’s GMO Global Payment Fund.
Its clients embody gaming giants resembling Tencent Holdings, Krafton, Activision Blizzard and Riot Games.