Key Points:
- Singapore-based dtcpay raised $16.5M pre-Series A round led by luxury real estate firm Pontiac Land Group chairman.
- Money will be used for product development and global expansion.
- Since its inception in 2019, dtcpay has offered payment processing services for users who transact in both fiat and crypto.
- David Tung, former managing director and partner at The Carlyle Group, Burgess Asia chairman Jean-Marc Poullet and Tham Sai Choy, former KPMG Singapore and Asia-Pacific chairman, also participated in the investment round.
Dtcpay, a Singapore-based payments startup with a crypto business, recently raised a pre-Series A round of $16.5 million.
The investment was led by Kwee Liong Tek, the chairman of luxury real estate firm Pontiac Land Group, which owns properties such as the Capella Hotel Group and Millennia Singapore. The latter is the proud owner of the Ritz-Carlton and Conrad hotels in Singapore.
The investment will be used for product development and for expanding the company’s reach globally. Since its inception in 2019, dtcpay has offered payment processing services for users who transact in both fiat and crypto.
In addition to Kwee Liong Tek, other notable investors in this funding round include David Tung, former managing director and partner at The Carlyle Group, Burgess Asia chairman Jean-Marc Poullet, and Tham Sai Choy, former KPMG Singapore and Asia-Pacific chairman. These are all well-respected names in the industry.
Although the reports did not include a valuation, it is clear that dtcpay has secured a significant amount of funding that will enable it to grow and expand its services. With the new investment, dtcpay plans to focus on product development and to explore new opportunities for growth in the global market.
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Coincu News
Source: https://news.coincu.com/196876-dtcpay-rockets-to-success-16-5m-funding/