March 20, 2025
By Our Correspondent
After their December 2024 commitment, Hong Kong-based cryptocurrency payment company RedotPay has announced the successful completion of a $40 million Series A fundraising round headed by Lightspeed.
HSG and Galaxy Ventures also made sizable investments in the round, according to a statement released by RedotPay on Monday.
Among other investors, DST Global Partners, Accel, and Vertex Ventures—a venture capital firm sponsored by Temasek—participated.
RedotPay intends to strengthen regulatory compliance frameworks, broaden its license footprint across several jurisdictions, improve its payment ecosystem for a more seamless user experience, and expedite its product roadmap with this new capital.
“Our team takes satisfaction in bridging the gap between fiat and crypto while providing financial access to millions of people worldwide.
Michael Gao, RedotPay’s co-founder and CEO, stated, “We look forward to partnering with Lightspeed, HSG, Galaxy, and our other strategic investors as we scale our platform capabilities to expand our reach and accelerate financial empowerment worldwide.”
“We do more than just create goods. For our users, we provide solutions to actual issues. By listening, being open, and being dedicated to enhancing their experience, we maintain their engagement.
“The rate of uptake by cryptocurrency enthusiasts and those excluded by the conventional banking system demonstrates that we are creating something genuinely significant,” he continued.
RedotPay, which was founded in April 2023, immediately made a name for itself as a traditional banking substitute for the unbanked.
The industry-leading crypto card and payment platform has over 3 million registered users worldwide, and its quick uptake highlights the rising need for crypto-based payment methods in regular transactions.
The company wants to establish a seamless payment ecosystem that connects cryptocurrency and fiat money.
Key differentiators in the market have been the platform’s user-friendly layout and emphasis on useful cryptocurrency applications.
The success of the deal demonstrates how investors support RedotPay’s goal of incorporating cryptocurrencies into daily life.
As they endeavor to transform the financial landscape, we are ecstatic to collaborate with Michael Gao and his group. For millions of people without access to traditional banking, RedotPay’s platform is already transforming financial access.
Pinn Lawjindakul, a partner at Lightspeed, stated, “We are thrilled to support RedotPay as they continue to build a more inclusive financial ecosystem and redefine the way people interact with money.”
According to Will Nuelle, General Partner at Galaxy Ventures, cryptocurrency payments are becoming into an essential component of the global financial system and are no longer a niche idea.
For millions of customers worldwide, RedotPay’s smooth fusion of digital assets with regular payments is revolutionary. We can’t wait to accompany them on their journey,” he continued.
RedotPay received financial advice for its Series A funding round from the PwC Corporate Finance and Venture and Growth teams.
