Smash Capital, Insight Partners, and GIC invest $690 million in the cross-border monetization provider as brand expands into more territories
SINGAPORE, April 14, 2022 /CNW/ – Today, Coda Payments (“Coda”), the world’s leading independent platform for digital content monetization, announced that a consortium of top-tier growth investors has acquired a minority stake in the company.
Smash Capital, New York-based global private equity and venture capital firm Insight Partners, and Singapore’s sovereign-wealth fund GIC invested US$690 million to partner with the company during a period of rapid international expansion. Apis Growth Fund II, a private equity fund managed by Apis Partners LLP (“Apis Partners”), and the company’s other existing shareholders retain equity positions in Coda moving forward.
“This investment marks a significant milestone for Coda as we seek to offer content publishers and consumers more monetization options,” said Neil Davidson, Executive Chairman and Co-founder, Coda Payments. “We have spent more than 10 years building the world’s leading independent platform for digital content monetization and are thrilled to welcome Smash Capital, Insight Partners, and GIC as partners as the company embarks on its second decade of growth.”
Codashop, a trusted source of in-game currencies and other premium content for millions of consumers in more than 50 territories worldwide, is the only independent content marketplace with a global footprint. Through Codashop, developers and publishers make it easier for their customers to access the content they love by allowing them to choose from more than 300 convenient payment methods. Coda also operates Codapay, which publishers use to accept the same range of payment methods available on Codashop on their own websites, and Codacash.
“We at Smash believe that the way people experience the internet will increasingly resemble video games. Coda empowers the world to consume these immersive experiences,” said Evan Richter, Founding Partner at Smash Capital. “The Smash team and I …