This marks KPay’s first institutional funding round, led by Apis Growth Markets Fund III and Apis Global Growth Fund III, both managed by UK-based venture capital firm Apis Partners.
Launched in 2020, KPay provides financial management and business operations tools for small and medium-sized enterprises (SMEs). Its services include business accounts, automated reporting, point-of-sale (POS) solutions, and cross-border payment capabilities. The company currently serves more than 45,000 merchants across Hong Kong, Japan, and Singapore.
This latest funding round follows a USD 10 million investment in 2022 and will be directed toward organic growth, strategic mergers, and acquisitions. KPay also aims to strengthen its presence in key Asian markets such as Indonesia, Thailand, Malaysia, and the Philippines.
The fintech firm plans to expand its network of partnerships, targeting a doubling of its current 150 collaborations with banking institutions, financial service providers, and Software-as-a-Service (SaaS) platforms.
KPay’s representatives stated that the funds will enable the company to grow its SME merchant base, enter new industry segments, and support merchants in underserved markets across Asia. The company has set an ambitious target of supporting one million merchants over the next five years.
This significant funding underlines the growing importance of fintech solutions tailored to SMEs in Asia’s rapidly developing economies and highlights KPay’s role in driving digital transformation in the payments sector.
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