Coda Payments raised $690 million in a secondary sale.
Coda Payments raised $690 million in a secondary sale.
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Coda Payments raises $690M for cross-border payments and alternative app stores

  • Posted byby Dean Takahashi
  • Updated
  • 4 min

Coda Payments has raised $690 million in funding to enable cross-border payments for games and other digital products, as well as alternative app stores. While the funding amount is impressive, no money will go to the company as existing longtime shareholders are selling their stakes to the new investors.

Smash Capital, Insight Partners, and GIC invested funds to acquire a minority stake in the Singapore-based company as it expands to more territories. Bloomberg reported the valuation of the company was $2.5 billion. And while it’s a secondary recapitalization, it shows that investors still have confidence in Coda Payments as it grows bigger.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.