Singapore’s Red Dot Payment, a cost gateway startup based by a staff of ex Visa and MasterCard executives, has closed a $5.2 million Collection B spherical to develop its enterprise.
Present backers GMO Enterprise Companions from Japan, Wavemaker Companions, Skype co-founder Toivo Annus and MDI Ventures put into the spherical. New investor DORR Group additionally took half. The startup beforehand raised an undisclosed Collection A and took funding from Indonesia-based mostly operator Telkomsel.
Past enabling on-line funds by way of a gateway, Pink Dot provides providers corresponding to on-line invoicing, recurring funds, various funds and extra. It additionally works immediately with shoppers for specialist necessities, and has devoted merchandise for motels and the hospitality business.
The corporate stated this new cash will go in the direction of creating R&D and tech options, and growing its workforce and capabilities throughout Asia. A number of the cost processor rivals in Southeast Asia Asia embrace 2C2P, Omise and Midtrans.
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