The HitPay team
Singapore-headquartered HitPay, a payment gateway for small and medium enterprises (SMEs), has secured US$15.75 million in a Series A round of funding led by Tiger Global.
Returning investors Global Founders Capital and HOF Capital also joined the round.
With the capital raised, HitPay will develop SME-friendly features, including support for local and international payment methods and integrations with accounting and e-commerce platforms.
The fintech firm will also invest in top-tier talent to support its clients globally.
Also Read: The future of fintech: The latest trends in the industry
The fintech firm was founded by Nitin Muthyala and Aditya Haripurkar. HitPay was recently accepted to Y Combinator’s accelerator programme.
HitPay is a one-stop payment platform for SMEs. It provides solutions such as local and cross-border payment acceptance and payouts, an online store platform, POS software with card readers, plugins, and payment links. The firm claims over 10,000 merchants use HitPay, and its transaction payment volume has grown by over 8x in 2021.
HitPay is available in Singapore, Malaysia, Hong Kong, Australia, New Zealand, Canada, the US, the UK, Europe, and the UAE. It plans to expand to new markets in Southeast Asia in the coming months.
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