2C2P, the South-East Asia payment services provider, has secured $7m (S$9.71 million) in Series C funding from international investors such as GMO Venture Partners Inc. and Amun Capital AG.
The Series C funding takes the total amount raised by the Singapore-based company over the $10m mark (S$13.86 million). The company will use the funding for product development, staff increase, and regional expansion.
The company plans to expand across South-East Asia with Myanmar, Thailand, the Philippines, Indonesia and Malaysia being identified as target markets.
The company will also use the funding to expand their card, cash, and cash-equivalent product services. They plan to release physical and virtual debit and prepaid cards in partnerships with banks and retailers.
“With over six hundred million people, close to seven hundred million mobile devices and a GDP of US$2.4 trillion and growing, the promise of e-commerce in Southeast Asia is tremendous,” said Aung Kyaw Moe, founder and Group CEO of 2C2P.
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