KPay, a Hong Kong-based fintech, raised $55 million in Series A funding to expand across Southeast Asia and enhance its offerings for small businesses. With Apis Partners leading the round, the company plans to target countries like Indonesia, Malaysia, and Thailand. Serving over 45,000 merchants, KPay has seen significant growth and aims to reach one million users within five years. The platform combines payment and business management tools, supporting merchants in transitioning to digital operations while pursuing strategic partnerships and acquisitions to fuel its growth.
Key Points:
- Funding Details: $55M Series A led by Apis Growth Markets Fund III.
- Expansion: Targets Indonesia, Malaysia, Thailand, and the Philippines.
- Achievements: Serves 45,000+ merchants; 166% revenue growth CAGR.
- Goals: Double partnerships and innovate products.
