RedotPay, a leading crypto payment platform, announced the closing of a $40 million Series A funding round led by Lightspeed following a commitment in December 2024, with significant investments from HSG and Galaxy Ventures. The funding round also saw participation from DST Global Partners, Accel, Vertex Ventures (Temasek-backed VC), among other investors.
Launched in April 2023, RedotPay quickly established itself as a pioneering alternative to traditional banking for the unbanked. And with over 3 million registered users globally, the industry leading crypto card and payment platform’s rapid adoption validates the growing demand for crypto-based payment solutions in everyday transactions.
RedotPay’s goal is to create a borderless payment ecosystem that seamlessly bridges fiat and cryptocurrencies. And by integrating traditional digital payment technology with cryptocurrencies, RedotPay enables users to easily spend digital assets with the familiarity of conventional payment methods. The platform’s design and focus on practical crypto applications have been key market differentiators.
With this new funding round, RedotPay plans to accelerate its product roadmap, enhance its payment ecosystem for a smoother user experience, reinforce regulatory compliance frameworks, and expand its licensing footprint across multiple jurisdictions.
PwC Corporate Finance and Venture & Growth teams served as financial advisor to RedotPay for the Series A financing round.
KEY QUOTES:
“Our team takes pride in empowering millions globally with financial access while bridging the gap between fiat and crypto. As we scale our platform capabilities, we look forward to partnering with Lightspeed, HSG, Galaxy, and our other strategic investors to expand our reach and accelerate financial empowerment worldwide.”
“We don’t just build products. We solve real problems for our users. We stay engaged by listening, being transparent, and committed to improving their experience. The pace of adoption by crypto enthusiasts and those who’ve been left out by the traditional banking system shows that we are building something truly impactful.”
– Michael Gao, co-founder and CEO of RedotPay
“We are thrilled to partner with Michael Gao and his team as they work to reshape the financial landscape. RedotPay’s platform is already revolutionizing financial access for millions who lack access to traditional banking. We are excited to support RedotPay as they continue to build a more inclusive financial ecosystem and redefine the way people interact with money.”
– Pinn Lawjindakul, Partner at Lightspeed
“Crypto payments are no longer a niche concept—they are becoming a fundamental part of the global financial infrastructure. RedotPay’s seamless integration of digital assets with everyday payments is a game-changer for millions of consumers globally. We’re excited to be a part of their journey.”
– Will Nuelle, General Partner of Galaxy Ventures
