April 27, 2015: The Singapore based online payment processing firm 2C2P today announced that they have raised the $7 million in series C funding. The investment is led by Hong Kong's Amun Capital AG and Japan's GMO Venture Partners Inc.
In 2011, the company grabbed $1 million in series A and followed by $2 million in series B funding in 2014. The total funding till now amounts to $10 million.
Founded in 2003, the credit card payment processor startup has expanded its services across Southeast Asian countries including Myanmar, Philippines, Thailand, Indonesia and Hong Kong. The company aims to expand further regionally with the latest round of funding. The company already works with famous labels like American Express, China UnionPay, JCB, MasterCard, and Visa.
Aung Kyaw Moe, CEO and founder says: "With over 600 million people, close to seven hundred million mobile devices and a GDP (gross domestic product) of $2.4 trillion and growing, the promise of e-commerce in South-East Asia is tremendous."
He further adds, "2C2P aims to capitalise on the region's growth by building financial services and payments infrastructure in key developing South-Asian markets."
As per the company financial reports, the startup have processed around $2.2 billion in transaction for fiscal year 2014, growing by over 400% year-on-year.
Source: DigitalNewsAsia.com
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