Funding round
Coda Seed
Coda, which works in digital monetization solutions development in Singapore, raised $4.0M in a Seed round announced on 29 Jan 2020, led by London Venture Partners. 1 firm took part. It is Coda's second venture round on record; the one before was a Seed in Dec 2012.
$4.0M
Amount raised
Not disclosed
Post-money valuation
1
Investors
1 lead
Valuation
What this round says about the price
Coda did not disclose a valuation in this round. It came 85 months after Coda's Seed. It is under 1% of the $694M Coda has raised in the venture rounds on record. Coda raised again 27 months later: a Growth round of $690M in Apr 2022, at $2.50B post-money.
Investors
Who put money in
London Venture Partners led the round.
Lead investor
- London Venture Partners new investor
Joined the board: David Lau-Kee (London Venture Partners).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
63 Seed rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $2.9M, and this round was 1.4 times the median. The closest in time, other companies' Seed rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 11 Dec 2019 | $10M | not disclosed | Kaszek and Ribbit |
| Payment Processing & Point of Sale | 1 Feb 2020 | $8.0M | not disclosed | PayU and Fosun International |
| Payment Processing & Point of Sale | 9 Dec 2019 | $6.0M | not disclosed | Impression Ventures |
| Payment Processing & Point of Sale | 5 Dec 2019 | $5.5M | not disclosed | BECO Capital and Global Ventures |
| Payment Processing & Point of Sale | 18 Dec 2019 | $1.3M | not disclosed | Morgan Stanley |
| Payment Processing & Point of Sale | 18 Feb 2020 | $1.2M | not disclosed | Temerity Capital Partners and Fenway Summer |
| Payment Processing & Point of Sale | 12 Mar 2020 | $4.7M | not disclosed | Y Combinator and Venture Highway |
| Payment Processing & Point of Sale | 16 Mar 2020 | $3.3M | not disclosed | Earlybird |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Coda raise in its Seed round?
Coda raised $4.0M in its Seed round, announced in Jan 2020.
Who led Coda's Seed round?
London Venture Partners led it.
What was Coda's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Payment Processing & Point of Sale?
63 Seed rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $2.9M, and this round was 1.4 times the median.
Did Coda raise again after this round?
Yes: a Growth round in Apr 2022 of $690M at $2.50B post-money.