HK’s RedotPay Lands $40M Series A to Scale Global Crypto Payment Solutions

RedotPay, a Hong Kong-based crypto startup, has secured $40 million in Series A funding to drive its expansion. The round was led by Lightspeed, with additional backing from DST Global Partners, Accel, Vertex Ventures—a Temasek-backed firm—HSG, and Galaxy Ventures.

Announced on March 14, 2025, the funding is expected to help the firm expand its presence in the crypto payments sector. The investment will help the company scale its operations and explore new market opportunities globally.

Founded in April 2023, RedotPay has quickly grown, attracting over three million registered users globally. The platform offers both virtual and physical crypto cards, enabling users to make tap-and-pay purchases, withdraw cash from ATMs, and send or receive digital assets using QR codes, phone numbers, or the RedotPay ID feature. It supports multiple cryptocurrencies, including BTC, ETH, USDC, and USDT.

The company positions itself as a bridge between traditional finance and Web3, aiming to create a seamless payment experience that integrates cryptocurrencies with conventional financial systems. RedotPay’s goal is to build a borderless payment network that allows users to spend digital assets as easily as fiat currency.

With the new funding, RedotPay plans to accelerate product development, strengthen its payment infrastructure, and expand regulatory compliance across various regions. The company is also looking to grow its licensing footprint to support its international expansion efforts. PwC Corporate Finance and Venture & Growth teams acted as financial advisors during the funding process.

Co-founder and CEO of RedotPay, Michael Gao, emphasized the company’s mission to enhance financial inclusion by bridging the gap between fiat and crypto. Lightspeed partner Pachara (Pinn) Lawjindakul praised RedotPay’s impact on financial accessibility and expressed confidence in its ability to reshape digital payments on a global scale.

The fresh capital will support RedotPay in expanding its licensing across multiple regions, accelerating product innovation, and strengthening its regulatory compliance frameworks. The company also aims to enhance its payment platform, focusing on a smoother and more user-friendly experience. PwC Corporate Finance and Venture & Growth teams served as financial advisors during the funding process.

In addition to securing funding, RedotPay recently integrated with Arbitrum, a layer-2 scaling solution for Ethereum, to introduce a dedicated payment gateway for the Arbitrum ecosystem. This integration is expected to improve transaction speed and reliability, further advancing RedotPay’s mission of blending traditional digital payments with cryptocurrencies.