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The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on November 7 a shareholders’ agreement for a joint investment with SYNQA Co., Ltd. (SYNQA) of USD90 million (JBIC portion) in Mars HoldCo Corp. (Mars), a special purpose company established in the United States for this joint investment.
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By means of equity participation under the shareholders’ agreement, JBIC intends to support SYNQA in acquiring the entire shares in Merchant eSolutions, Inc. (MerchantE) through Mars.
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SYNQA is a fintech startup founded in 2013, which operates online payment businesses and provides related fintech solutions under the Opn brand in Southeast Asia and Japan.
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MerchantE, founded in 1999, is a payment processing service company in the United States. Through the acquisition of MerchantE, SYNQA, which provides services that help Japanese companies to promote digital transformation (DX) and improve UI in the field of online payments, aims to enter the payment processing service market and further expand its global business by capturing MerchantE’s business base and customer network in the United States. JBIC’s equity participation is intended to support the overseas business expansion of SYNQA, thereby contributing toward maintaining and improving the international competitiveness of Japanese industry.
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As Japan’s policy-based financial institution, JBIC will continue to assist Japanese companies in the overseas expansion of their businesses by drawing on its various financial facilities and programs including its equity participation function for structuring projects, and by performing its risk-assuming function.
