RedotPay, a crypto payment platform based in Hong Kong, has announced the successful close of a $40 million Series A funding round led by Lightspeed following their commitment in December 2024.

RedotPay said in a statement on Monday that the round also saw significant investments from HSG and Galaxy Ventures.

It also saw participation from DST Global Partners, Accel, Vertex Ventures (Temasek-backed venture capital firm), among other investors.

With this new funding, 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.

“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,” said Michael Gao, Co-founder and Chief Executive Officer of RedotPay.

“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,” he added.

Founded in April 2023, RedotPay quickly established itself as an alternative to traditional banking for the unbanked.

With over 3 million registered users globally, the industry leading crypto card and payment platform’s rapid adoption underscores the growing demand for crypto-based payment solutions in everyday transactions.

The firm aims to create a borderless payment ecosystem that seamlessly bridges fiat and cryptocurrencies.

By integrating traditional digital payment technology with cryptocurrencies, it enables users to easily spend digital assets with the familiarity of conventional payment methods.

The platform’s intuitive design and focus on practical crypto applications have been key market differentiators.

The round’s success highlights investors’ alignment with RedotPay’s vision to integrate cryptocurrencies into everyday use.

“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,” said Pinn Lawjindakul, Partner at Lightspeed.

Meanwhile, Will Nuelle, General Partner of Galaxy Ventures, said that 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,” he added.

PwC Corporate Finance and Venture and Growth teams served as financial advisor to RedotPay for its Series A financing round.

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