RedotPay, a rising player in the crypto payments sector, has successfully closed a $40 million Series A funding round to accelerate the adoption of Web3-powered financial solutions. The round was led by Lightspeed, which had previously committed to the company in December 2024. Other major investors included HSG, Galaxy Ventures, DST Global Partners, Accel, and Temasek-backed Vertex Ventures.
Bridging Crypto and Traditional Finance:
Founded in April 2023, RedotPay has rapidly grown to serve over 3 million registered users worldwide. The company is focused on creating a borderless financial ecosystem, allowing users to seamlessly spend digital assets alongside traditional fiat currencies.
“Our team takes pride in empowering millions globally with financial access while bridging the gap between fiat and crypto,” said Michael Gao, co-founder and CEO of RedotPay. “As we scale our platform capabilities, we look forward to partnering with Lightspeed, HSG, Galaxy, and our other strategic investors to expand our reach and accelerate financial empowerment worldwide.”
Lightspeed’s Pinn Lawjindakul, Partner, echoed this enthusiasm, emphasizing its potential to reshape the payments landscape.
Expanding Reach and Enhancing Compliance:
With fresh capital, RedotPay aims to enhance its payment ecosystem, strengthen compliance efforts, and expand its global footprint. PwC advised the company throughout the funding round.
Earlier this year, RedotPay took a significant step toward crypto payments adoption by teaming up with Visa and StraitsX to launch a crypto credit card in Singapore.
This initiative followed RedotPay’s Virtual Asset Service Provider (VASP) registration in Lithuania, granted by the Financial Crime Investigation Service (FCIS) in December 2024, allowing the company to formally enter the European market.
With its latest funding, RedotPay is poised to lead the evolution of digital payments, bringing crypto further into mainstream finance.
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