dtcpay Raises US$16.5M Pre-series A to Expand Global Presenceby Fintech News Singapore June 21, 2023
dtcpay, a Singapore-based digital payments platform, has raised US$16.5 million in a pre-Series A funding round led by the Chairman of Pontiac Land Group Kwee Liong Tek.
The firm said that the funding will be used to further invest in product development, building more robust operations and infrastructure capabilities as well as expanding dtcpay’s global presence.
dtcpay is a licensed Major Payment Institution (MPI) formerly known as Digital Treasures Center. The company had appointed Kanny Lee as Group CEO with market expansion goals that tap into areas such as cross-border payments and to serve nascent Web 3.0 businesses.
It provides seamless conversion of fiat and digital currencies in a single platform to enable merchant businesses to accept more payment types with a quick and easy settlement process.
“At dtcpay, we are excited about the prospect of working with globally renowned hospitality brands to open the door to their customers for digital payments.
With the support of Mr. Kwee and our other investors, we are well positioned to quickly access overseas markets with reputable partners providing us strong governance.”
said Kanny Lee, Group CEO of dtcpay