South Korean payments startup CHAI raised US$45 million during a Series B+ funding round that was co-led by SoftBank Ventures Asia (SBVA) and Nyca Partners.
SBVA’s participation in this funding round marks their second Series B investment into CHAI.
The round also received additional participation from investors such as KT Investment, Conductive Ventures, Nordstar Capital, Samsung NEXT and B Capital.
CHAI said that it will use this funding to expand its footprint in Southeast Asia and develop a fully automated end-to-end payment infrastructure for digital merchants throughout Asia.
Founded in 2019, CHAI aims to bridge the payments gap in Asian markets by providing a unified payment orchestration solution for local merchants through a single application programming interface (API).
Through CHAI Port, merchants can activate and offer over 30 payment options such as credit cards, digital wallets, bank transfers and cross-border payments to their customers in under an hour.
CHAI currently processes more than US$6 billion on behalf of over 2,2 00 merchants and had launched CHAI Port in Vietnam and Thailand