(This article has been updated with new details from 2C2P)
Singapore- and Bangkok-headquartered payments processing company 2C2P has established a VC arm to make strategic investments in payments and related sectors.
With the launch of 2C2P.VC, the fintech company aims to further accelerate the growth of its omni-channel payments platform in Southeast Asia and beyond.
The venture arm will primarily focus on strategic partnerships and investments in complementary businesses that offer opportunities for further vertical integration and geographic expansion outside of 2C2P’s core markets.
Also Read: 2C2P receives US$52M funding from IFC, Cento Ventures, Arbor Ventures, focussing on expansion
Aung Kyaw Moe, Founder and Group CEO of 2C2P, said: “There are a number of companies where we see a strong strategic fit — either due to exciting new technologies, complementary products or geographic presence in markets where we want to be in the future.”
“Above all, we look for teams who want to join our growth journey. With our latest funding round in 2019, we are now in a position to invest in such companies and partner with them even more closely going forward,” he added.
Headquartered in Singapore, 2C2P.VC will be led by Eva Weber, who recently joined 2C2P’s management team as Investment Director. Weber brings with her more than 15 years of experience in the financial services industry, having worked across a range of companies including Merrill Lynch, IFC, Naspers and Adyen.
“Our investment arm is part of 2C2P, not a fund,” Weber told e27 in an emailed response. “This structure provides us with a lot of flexibility and full alignment of interests – to accelerate the growth of 2C2P.”
Rather than targeting a specific number of investments, she said, 2C2P.VC aims to invest in companies that align with its strategy, i.e, to grow our omni-channel platform and expand into new markets.
“We evaluate each opportunity and determine the investment size and level of involvement we want to have, accordingly. Generally speaking, we look to take a minority stake with the view of increasing our stake over time,” she noted.
“We are constantly meeting new companies as part of our normal course of business, and often engage with them on commercial partnerships. We now have the opportunity to support them via our investment arm,” Weber added.
2C2P will continue to focus on strengthening its core markets of Southeast Asia (Thailand, Indonesia, Malaysia, Myanmar, the Philippines and Singapore), but is also looking for companies that can help it expand outside the region.
The launch of 2C2P.VC comes on the back of the company’s US$52 million fundraise, led by an international consortium of investors, including IFC, Cento Ventures, and Arbor Ventures, in November 2019.
2C2P helps businesses accept payments from millions of customers around the world on its omni-channel platform (online, mobile and in-store channels). It operates across Southeast Asia, North Asia, the US, and Europe.
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