This archive report was first published on 25 November 2019.
On November 25, 2019, Singapore-based 2C2P, a pan-Asian payment services company, secured $52 million in funding.
The investors who contributed to this funding include International Finance Corporation (IFC), Cento Ventures, and Arbor Ventures.
According to 2C2P, the company plans to use the funding to invest in new technologies, enhance its payments platform, and hire local talent. Additionally, 2C2P aims to expand its operations beyond South East Asia over the next year.
IFC's head of Fintech Investments, Andi Dervishi, stated, '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.'
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 operates across countries in Southeast Asia, North Asia, Europe, and the U.S., with dual headquarters in Singapore and Bangkok.
