Singaporean firm Coda Payments Pte is nearing a deal to raise private funds at about a $2.5 billion valuation, according to people familiar with the matter.
The online payment processing company is poised to announce a fresh fundraising deal to fuel growth plans as early as this week, the people said, asking not to be identified because the discussions are private. Investors including private equity firms Advent International and Primavera Capital are considering participating in the round, the people said.
Coda has been working with Goldman Sachs Group Inc. on a strategic review of options including a potential sale of the business, an initial public offering and a private round, Bloomberg News reported in November. The company was seeking a valuation of at least $4 billion, people familiar with the matter said at the time.
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