dtcpay raises $16.5m in Pre-Series A Funding Round
By Leandra Monteiro
dtcpay, a Singapore-based digital payments platform, announced it has raised $16.5 million in a pre-Series A funding round.
One of Singapore’s most influential conglomerate family business owners, Kwee Liong Tek, Chairman of Pontiac Land Group, led this round.
The funding will further invest in product development, building more robust operations/infrastructure capabilities, and expanding dtcpay’s global presence.
“dtcpay has demonstrated remarkable growth prospects and aligns with our investment strategy” said John Tay, representing Kwee Liong Tek, Chairman of Pontiac Land Group investment vehicle. “From the moment we met with the dtcpay team, we saw their commitment to the regulated financial markets as fully licensed payments provider that could integrate well with our international portfolio of leading hospitality brands bringing them into the web3 economy.”
In 2023, the company rebranded to dtcpay and appointed Kanny Lee as Group CEO with market expansion goals that tap into areas such as cross-border payments and to serve nascent web3 businesses.
“It’s not often you see a generational shift into a global digital economy where businesses increasingly interact with their customers online or offline with use of digital currencies,” said Kanny Lee as Group CEO. “At dtcpay, we are excited about the prospect of working with globally renowned hospitality brands to open the door to their customers for digital payments. With the support of Mr. Kwee and our other investors, we are well positioned to quickly access overseas markets with reputable partners providing us strong governance.”
dtcpay is a payment service provider headquartered in Singapore that offers reliable payment processing while transacting across both fiat and digital currencies.
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