KPay Group, a Hong Kong- and Singapore-based financial management and business operations platform, has secured US$55 million in its Series A funding round.
This round was led by Apis Growth Markets Fund III and Apis Global Growth Fund III, managed by Apis Partners, a UK-based ESG and impact-native global private equity asset manager.
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The investment will fuel KPay’s expansion plans across key Asian economies, including Indonesia, the Philippines, Malaysia, and Thailand. The company will also utilise the capital for organic growth and strategic mergers and acquisitions.
This funding round is significant given the current state of fintech funding in Asia Pacific. Fintech funding in the region hit a six-year low in the first half of 2024.
Founded just over three years ago, KPay empowers businesses with technology solutions. Its one-stop platform helps merchants with financial management, business operations, and digital transformation across Asia.
The company says it serves over 45,000 merchants across Hong Kong, Singapore, and Japan and has achieved a 166 per cent revenue compound annual growth rate (CAGR).
Davis Chan, co-founder and CEO of KPay, said: “We are excited to use this funding to not only expand our existing markets’ SME merchant base, but also broaden our reach into new merchant industry categories, merchants of all sizes, and merchants operating in other underserved markets across Asia. This will bring us closer to our ambitious goal of supporting one million merchants over the next five years.”
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Christopher Yu, President and CFO of KPay, added: “Securing this funding gives us financial strength and flexibility to enhance our product innovation, go-to-market speed, customer experience, and operational excellence.”
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