MC Payment, a Singapore-based financial technology and payment solutions provider, raised S$5m in funding.
The round was led by 2W Group – a Thailand family-owned investment firm, with participation from Aura Funds Management, tryb Capital and Perle Ventures.
The company intends to use the funds to expand into into Thailand – to build a team at its office in Bangkok, consolidate its business operations in Malaysia, Australia and Hong Kong, and to enhance the capabilities and technology of its Singapore team.
Led by Anthony Koh, Founder and Group Chief Executive, MC Payment specializes in supporting non-cash payments across Southeast Asia and Oceania. Its suite of products provide solutions for in-store, mobile, online and digital payments across the region, and across a variety of industries including non-profit, insurance, e-commerce and financial institutions.
– Xaavan, a B2B web-enabled supply chain payment and e-invoicing platform, and a MasterCard-certified Level 3 enhanced data processing solution in Asia
– MatchCab, a customizable platform for transport providers, and
– ffastpay, a B2C mobile payments solution (mPOS)
The company, which has recently opened a new office in Bali with a key focus on merchant acquisition in the hospitality industry, has also developed a network of partnerships and accreditations with top banks and payments schemes such as First Data, Global Payments, American Express, Visa and MasterCard in order to process transactions over a multitude of payment channels.