Smash Capital, a New York-based private equity firm, Insight Partners, a venture capital firm, and GIC, Singapore’s sovereign-wealth fund, have invested $690 million in Coda Payments.
Coda Payments is an independent platform for digital content monetization. The firm is a trusted source of in-game currencies and premium content for millions of consumers. Following the deal, Apis Partners, its Apis Growth Fund II, and Coda’s existing shareholders will retain equity positions in the firm.
“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.”