RedotPay garners $40m in Series A funding

GlobalData

Mon, Mar 17, 2025, 5:02 AM 2 min read

Hong Kong-based crypto payments firm RedotPay has completed a Series A funding round, raising $40m.

The funding round was led by Lightspeed and included contributions from HSG and Galaxy Ventures.

Additionally, DST Global Partners, Accel, and Vertex Ventures, a venture capital firm backed by Temasek, were among the other investors participating in the round.

This funding will enable the company to expedite its product development, enhance its payment ecosystem, and ensure regulatory compliance across various regions.

With the fresh capital, RedotPay also aims to expand its licencing footprint.

PwC Corporate Finance and Venture & Growth teams were financial advisors for RedotPay throughout the funding process.

Lightspeed partner Pinn Lawjindakul said: “We are thrilled to partner with Michael Gao and his team as they work to reshape the financial landscape. RedotPay’s platform is already revolutionising financial access for millions who lack access to traditional banking. We are excited to support RedotPay as they continue to build a more inclusive financial ecosystem and redefine the way people interact with money.”

RedotPay co-founder and CEO Michael Gao stated: “Our team takes pride in empowering millions globally with financial access while bridging the gap between fiat and crypto. 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.”

Set up in April 2023, RedotPay has amassed over three million registered users worldwide, with its crypto card and payment platform.

The company aims is to forge a borderless payment ecosystem that connects fiat and cryptocurrencies.

RedotPay's integrates “traditional digital payment technology” with cryptocurrencies to allows users to utilise digital assets with the “familiarity of conventional payment methods”.

Last month, RedotPay integrated with Arbitrum, a layer-2 scaling solution for Ethereum.

"RedotPay garners $40m in Series A funding " was originally created and published by Electronic Payments International, a GlobalData owned brand.

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