RedotPay raises $107 million Series B to expand stablecoin payments platform
RedotPay secured $107 million in Series B funding to scale its stablecoin payments infrastructure and global operations.Summary
Hong Kong-based fintech RedotPay, which focuses on stablecoin-based payments, announced it has raised $107 million in an oversubscribed Series B funding round. The round was led by Goodwater Capital, with participation from Pantera Capital, Blockchain Capital, and Circle Ventures. This latest raise brings RedotPay's total capital to around $200 million, following a $47 million strategic round in September. RedotPay's CEO, Michael Gao, stated the new capital will be used to scale infrastructure, compliance, and partnerships due to accelerated user demand. The company boasts over 6 million registered users across 100+ markets, reporting over $10 billion in annualized payment volume and operating profitably with $150 million in annualized revenue. The funds will specifically target product development, compliance/licensing, and strategic acquisitions to expand its regulatory footprint in fast-growing regions like the Middle East and North Africa.
(Source：The Block)