RedotPay, a crypto payment platform looking to bridge web3 and traditional finance, announced the completion of a $40 million Series A funding round.

Venture capital platform Lightspeed led the round, with this following their commitment in December 2024. RedotPay also attracted several top VC players for the round, including HSG, Galaxy Ventures, DST Global Partners, Accel, and Temasek-backed Vertex Ventures.

Crypto payment platform RedotPay, which is aiming to bridge web3 and traditional finance, has announced the completion of a $40 million Series A funding round.

Venture capital platform Lightspeed led the round, following up on their December 2024 commitment.

For this round, RedotPay also managed to attract several top VC players, including HSG, Galaxy Ventures, DST Global Partners, Accel, and Temasek-backed Vertex Ventures to participate.

Founded in April 2023, RedotPay has quickly become a viable alternative for the unbanked, now serving over 3 million registered users globally. The company aims to create a borderless payment ecosystem by seamlessly integrating fiat and cryptocurrencies.

This allows users to spend digital assets with the same ease as traditional payment methods, a factor that has contributed to the rapid adoption of its platform.

“Our team is proud to be empowering millions globally with financial access while bridging the gap between fiat and crypto,” said Michael Gao, co-founder and chief executive officer of RedotPay.

“As we scale our platform capabilities further, we look forward to partnering closely with Lightspeed, HSG, Galaxy, and our other strategic investors to expand our reach and accelerate financial empowerment worldwide.”

Pinn Lawjindakul, Partner at Lightspeed, expressed enthusiasm for the collaboration: “We’re excited to continue the journey with Michael and the team at RedotPay.

“They’ve built an incredible platform that is already making a real difference in the lives of millions of people around the world.”

With the fresh capital, RedotPay plans to enhance its ecosystem, boost compliance, and expand globally.

“We don’t just build products. We solve real problems for our users,” added Gao.

PwC advised RedotPay on this financing round.Earlier this year, RedotPay joined forces with Visa and StraitsX to launch a crypto credit card in Singapore as part of broader efforts to drive the adoption of digital asset payments.

This milestone in February 2025 followed the company’s Virtual Asset Service Provider (VASP) registration in Lithuania. Having obtained full registration from Lithuania’s Financial Crime Investigation Service (FCIS) in December 2024, RedotPay was able to officially enter the European market.

Elsewhere, Binance Pay recently partnered with xMoney to expand its crypto payment services within the European Union.