South-East Asia Payments Platform, 2C2P, has secured $52 million in funding.
Investors who raised the funds include International Finance Corporation (IFC), Cento Ventures, and Arbor Ventures.
According to the firm, they will use the funding to invest in new technologies, enhance its payments platform and hire local talent. The company also has plans to expand beyond South East Asia over the next year.
2C2P’s mission and product offering are well aligned with IFC’s objective of promoting electronic payments to help underserved people and small businesses participate in the digital economy.
Andi Dervishi, head of IFC’s Fintech Investments.
As reported by Deal Street Asia, IFC is planning an equity investment of $15 million in 2C2P, which has shareholders including Japanese Internet group GMO and Kauz TMT Services.
2C2P is a pan-Asian payment services company that works with financial institutions, e-commerce and m-commerce merchants. It operates across countries in Southeast Asia, North Asia, Europe and the U.S. It has dual headquarters in Singapore and Bangkok.
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