RedotPay Raises $40M to Expand Global Crypto Payments

RedotPay, a prominent crypto payment platform, has successfully raised $40 million in its Series A funding round. The investment was led by Lightspeed, following their initial commitment in December 2024. Other major investors include HSG, Galaxy Ventures, DST Global Partners, Accel, and Vertex Ventures (a venture capital firm backed by Temasek), alongside several additional participants.

RedotPay’s Rapid Growth

Established in April 2023, RedotPay has quickly emerged as a revolutionary alternative to traditional banking, particularly for the unbanked population. The platform has already attracted over 3 million registered users worldwide. Its industry-leading crypto card and payment solutions have seen rapid adoption, reflecting the rising demand for cryptocurrency-based transactions in everyday commerce.

A Vision for Borderless Payments

RedotPay aims to create a seamless payment ecosystem that bridges fiat and digital currencies. By combining conventional digital payment technologies with cryptocurrency integration, the platform allows users to spend their crypto assets effortlessly, just like traditional payment methods. Its user-friendly interface and practical crypto applications set it apart in the market.

"Our team takes pride in empowering millions globally with financial access while bridging the gap between fiat and crypto," said Michael Gao, co-founder and CEO of RedotPay. "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."

Strong Investor Confidence

The successful funding round highlights investor confidence in RedotPay’s vision of making cryptocurrencies a mainstream payment option. Lightspeed, a global investor with expertise in payments and fintech, spearheaded the round, reinforcing RedotPay’s strategic direction and long-term growth potential.

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.

"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."

Future Expansion Plans

With fresh capital in hand, RedotPay plans to accelerate the development of its products, enhance its payment ecosystem for a smoother user experience, strengthen regulatory compliance frameworks, and expand its licensing presence across multiple jurisdictions. PwC Corporate Finance and Venture & Growth teams advised RedotPay throughout its Series A financing process.