SYNQA – parent firm of OmiseGo – has reportedly secured $80 million via a fundraising round focused on new cashless payment ventures.

Specifically, the fintech firm from Thailand SYNQA has reportedly revealed its successful serie C funding round, which helped secure $80 million, led by Siam Commercial Bank subsidiary SCB 10X, along with the Asian venture capital group SPARX. 

The list of investing firms reportedly went on, including Toyota Financial Services Corporation, Sumitomo Mitsui Banking Corporation, SMBC Venture Capital, and the Aioi Nissay Dowa Insurance Corporation.

Per a SYNQA press release, the newly acquired fund will reportedly be channeled to promote cashless solutions to different firms throughout Asia, with cryptocurrency is reportedly on one tool of many. 

“There are many products and factors that can help a society become cashless. Our subsidiaries are developing new and improved technologies and financial infrastructure to enhance customer experiences with seamless value transfer systems that would also accommodate a cashless society.” a SYNQA spokesperson reportedly claimed.

Apart from its attempts to develop cashless payments, SYNQA has reportedly been offering assistance to Toyota – the firm has previously released a cashless app wallet in November last year.