Asia Tech Wire (Oct 11) -- Japanese payments company Infcurion plans to launch an IPO in Tokyo next year, according to Reuters.

Kenichi Nogami, chief financial officer of Infcurion, said in an interview that the company plans to IPO in Tokyo next year, and hopes to accelerate its growth through mergers and acquisitions and other means.

Last month, Infcurion announced an investment of nearly 8 billion yen ($53.8 million) from the Sumitomo Mitsui Financial Group (SMFG), valuing the company at more than 30 billion yen.

Infcurion expects the company to be profitable in the current fiscal year ending March 31, 2025, on the back of rapid growth in transaction volumes in its credit card issuance platform business.