Volopay Raises US$2.1 Million Ahead of APAC and Australia Expansion Plansby Fintech News Singapore January 19, 2021
Volopay, Singaporean AI-based real-time expense management software, has raised US$2.1 million during its seed round funding.
The investment round was led by Tinder founder Justin Mateen. Other investors joining the round were Soma Capital, CP Ventures, Y Combinator, VentureSouq, the founders of Razorpay, and other prominent angel investors.
Volopay said that the new funds will be used for hiring, product development, international expansion and strategic partnerships.
Since its launch in Singapore, the startup said that it has been on a strong growth trajectory, growing at 70% month on month. There are plans in its pipeline to expand across the Asia Pacific region over the next three years.
Additionally, Volopay will also be launching operations in Australia late January 2021. where it has reportedly already built a sizable waitlist of customers ahead of its launch.
Volopay’s CEO Rajith Shaji said that it had integrated with Melbourne-based payments firm Airwallex’s API suite to provide them with “robust payment and issuing capabilities”.