Summary
- RedotPay said it raised $107 million in a Series B investment round.
- It said major investors included Goodwater Capital, Pantera Capital, Blockchain Capital, and Circle Ventures.
- RedotPay said it plans to use the funds for infrastructure expansion, regulatory compliance, partnership strengthening, and strategic M&A.
Stablecoin (virtual asset pegged to fiat currency)-based payments fintech RedotPay raised $107 million in a Series B investment round.
On the 16th (local time), The Block reported that RedotPay succeeded in raising $107 million in a Series B round led by Goodwater Capital. Major investors included Pantera Capital, Blockchain Capital, and Circle Ventures. Existing investor HSG (formerly Sequoia China) also participated in this round.
RedotPay said the Series B was oversubscribed and consisted entirely of common stock investments. The company did not disclose changes to valuation or board composition after the investment.
RedotPay previously raised $47 million in September and $40 million earlier this year. With this raise, the company's total funding amounts to about $200 million.
Michael Gao, RedotPay co‑founder and CEO, said, "Platform demand is rapidly expanding," adding, "This funding will be used to expand infrastructure, ensure regulatory compliance, and strengthen partnerships." The company plans to deploy the new funds toward product development, obtaining licenses and compliance, and strategic M&A.
Uk Jin
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