Malaysian Firm Soft Space Raises The Largest Series B Round

Soft Space, a SoftPOS company from Malaysia, has raised $31.5 million in a Series B1 funding round. This will help the company grow its global reach and customer base.

The funding round was led by Southern Capital Group, and returning investor transcosmos, strategic investor JCB, and venture capital fund Hibiscus Fund also contributed.

When it raised $30 million in October 2019, Aerodyne Group, a company that makes drones, broke the record for Series B funding in the country.

SoftSpace was started in 2012, and it has more than 70 partners and financial institutions in Japan, Europe, Oceania, and the Americas. Banks like Maybank, CIMB, Hong Leong Bank, and Bank of New Zealand are among its customers.

The company is currently focusing on expanding into omnichannel payments, such as the use of artificial intelligence, QR code payments, e-wallet systems, and money lending schemes.

Chris Leong, Soft Space’s chief strategy officer, says:

“With the closing of this round, we are restructuring Soft Space’s capital base to catapult the company towards high growth and strengthen our global market position.”