Crypto payment platform RedotPay has raised $40 million in a Series A funding round led by Lightspeed. The funding round also attracted investments from HSG, Galaxy Ventures, DST Global Partners, Accel, Vertex Ventures (Temasek-backed VC), and others.
Founded in April 2023, RedotPay quickly established itself as a pioneering alternative to traditional banking for the unbanked. With over 3 million registered users globally, the industry leading crypto card & payment platform’s rapid adoption underscores the growing demand for crypto-based payment solutions in everyday transactions.
RedotPay’s mission is to create a borderless payment ecosystem that seamlessly bridges fiat and cryptocurrencies. By integrating traditional digital payment technology with cryptocurrencies, RedotPay 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.
Michael Gao, co-founder and CEO of RedotPay, said: “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.”
The round’s success highlights investors’ alignment with RedotPay’s vision to integrate cryptocurrencies into everyday use. Lightspeed, a global multi-stage investor, leading payment and fintech-focused investor, led the funding round.
Pinn Lawjindakul, Partner at Lightspeed, commented, “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.”
“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,” said Will Nuelle, General Partner of Galaxy Ventures.
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.
“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.” Michael Gao added, “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.”
PwC Corporate Finance and Venture & Growth teams served as financial advisor to RedotPay for its Series A financing round.
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