QFPay will raise another US $ 20 million from a well-known investment company to expand its international business in the future.
QFPay QFPay will raise another US $ 20 million from a well-known investment company to expand its international business in the future. …………………………………………………………………………………………… -QFPay, Asia’s leading digital payment technology company, has recently raised $ 20 million in new rounds from existing investors Sequoia Capital China and Matrix Partners. This latest funding round includes MDI Ventures (Corporate Venture Capital Division of Telkom Indonesia, the largest national telecommunication company in Indonesia) and Rakuten Capital VentureSouq, a corporate venture capital (self-funded investment) business of Rakuten Group. Venture capital firms with a global technology startup portfolio and support for companies moving into the Middle East), etc. Established in 2012, QFPay is a world with business bases in 13 markets in Asia and the Middle East, including Cambodia, China, Hong Kong, Indonesia, Japan, Korea, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and the United Arab Emirates. Has grown into a modern digital payment company. With this new funding, QFPay will continue to expand its services in key markets and research and develop new digital payment products and solutions. QFPay co-founder and CEO Tim Lee said, “Since we started operations in China, the birthplace of digital payments, we have built experience, know-how and knowledge in this industry. As demand for payments, particularly QR code payments, rises, we are very pleased to leverage our know-how over the past seven years to lead the cashless movement. ”Asia is mainly for people who do not have bank accounts. Due to the demand for financial inclusion, it is a major growth region for digital payments * 1, especially in the ASEAN region, the total transaction value of mobile payments increased rapidly by 25% or more in CAGR (annual average growth rate) by FY2027 It is expected to reach US $ 100 million * 2, which represents a great opportunity for stakeholders in the digital payment industry. * 1 Price Waterhouse Coopers 2019 Global Consumer Insights Survey: pwc.to/2JEgHkM * 2 Nomura Global Markets Research Anchor Report-ASEAN internet: Opening up the mobile wallet: bit.ly/2H5vGQO Trusted by industry leaders, standing on the shoulders of giants QFPay provides proven and comprehensive digital payment products and solutions, leveraging its position as a leader in the digital payments ecosystem, for banks, carriers, cross-border payment networks and consumers We have gained significant partnerships with top players in the industry, such as retail brands, that have paved the way for industry expansion and contributed to the industry. These achievements have drawn attention from some of the world’s leading financial and strategic investors. Sequoia Capital China, one of the largest investment firms, has participated in the last three rounds of fundraising, said Li Zhanglu, vice president of Sequoia Capital China, “QFPay is the largest company in Asia. And the most experienced and established digital payment technology providers, their continued growth demonstrates the robustness of international growth strategies and unique business approaches to great success. “If you bet on one digital payment company that could take advantage of the potential of this region, it would be QFPay.” In addition, Patrick Ngan, QFPay co-founder and CEO of QFPay International, said, “The strategic value from new investors in this round is expected to promote QFPay’s business expansion plans, and the adoption of digital payments Considering local strategies and network needs in each market, support from trusted strategic partners, including MDI Ventures, Rakuten Capital, and VentureSouq investment and advisory, We play an important role in getting through this complex business environment. ” About QFPay QFPay is a digital payment technology, solutions and leading service provider with operations in 13 markets in Asia and the Middle East. Since its establishment in 2012, QFPay has provided retailers with mobile payment solutions utilizing end-to-end online and offline QR codes, as well as high value-added services such as food ordering services and customer loyalty programs. QFPay’s solutions have been used by over 1.2 million merchants to date and have over 1 billion transactions. Merchants range from high-end fashion brands and jewelry brands to restaurants, hotels, exhibitions and convenience stores, both large and small retailers. Inquiries from the media: Priscilla Cheong, mobile: +65 9730 0589, e-mail: email@example.com Michelle Lee, mobile: +65 9710 2983, e-mail: firstname.lastname@example.org Chee Shiao Tiing, mobile: +65 9172 2107, e-mail: email@example.com
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