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Sometimes , the easiest way of life to find a great theme for a startup is to take care beyond the current job you ’re solving for your client .
That ’s exactly what worked for the founder ofKPay . Davis Chan and his atomic number 27 - founders antecedently avail little and medium - sized merchants optimize their revenue and traffic in Asia , but they eventually noticed how inefficient managing payments and finances was for their client .
Traditional financial solutions for merchant and SMBs do not effectively provide to the innovative needs for business lightness , integration , and data - informed decision - making , Chan said . “ This fragmented approach effect in inefficiency , high price , and a lack of actionable commercial enterprise insights . ”
That brainstorm led them to get down KPay , a one - stop financial direction program for merchants and SMBs . The company has seen enough adhesive friction in the three old age since its inception : It now serve 45,000 merchants in Hong Kong , Singapore , and Japan , and partner with more than 150 SaaS provider , banks , and financial service of process firms . The company says it point to increase its partnerships to serve more businesses in Asia .
“ We ’re invest in payment applied science that offer greater flexibility , speed , and security to merchants to accept all major defrayment , supporting payroll , bill settlement , and both local and global remittal as a unified financial management weapons platform , ” Chan told TechCrunch .
Investors for sure seem to have noticed the opportunity here : KPay recently fix $ 55 million in a Series A round led by London - based investment firmApis Partners .
The fresh cash from the Series A will be put toward intersection developing , as well as enhance its go - to - market speed , improving customer experience through constituent growth , and expanding into new Asiatic markets and supporting inorganic growth scheme such as strategic fusion and acquisitions , Christopher Yu , CFO of KPay , assure TechCrunch . In addition , the inauguration is exploring how AI will ameliorate the merchant experience , increase operational efficiency , and supercharge revenues .
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Yu did not provide specific details about KPay ’s tax revenue and profitability but said its revenue had achieved a compound annual growth rate of 166 % since its inception .
“ take care ahead , our goal is to enable 1 million merchant within the next five yr , create an inclusive digital economy where neighborhood business enterprise have the same opportunities as major brand , ” Chan said .
The company has about 440 stave across its base in Hong Kong and Singapore .
