25 November 2019:
Payment platform 2C2P has raised $52 million in funding from IFC, Cento Ventures and Arbor Ventures.
The company will use the fresh capital to invest in new technologies to enhance its payments platform, hire talent and consolidate market share in South-east Asia with a view to expanding beyond the region over the next year.
Aung Kyaw Moe, Founder and Group CEO of 2C2P said, “Having achieved a critical mass both in terms of market share and our merchant base, and looking at the continued growth and potential of South-east Asia’s Internet economy, we felt this was the right time to bring in additional resources so we can strengthen our market leadership position, expand the business, and compete more effectively.”
Aung Kyaw Moe added, “We’re not consumer tech and we don’t want to be. 2C2P’s strength lies in our relationships with our merchants – we know what they need, how they want to collect payments, and we can build it for them. And that’s why they trust us with their business.”
The latest funding round brings 2C2P’s total funding to $70 million.
(Image – 2C2P)