Hong Kong-based fintech company RedotPay has raised $107 million in a Series B funding round, signaling strong investor confidence in stablecoin-based payment solutions. The round was led by consumer-focused venture firm Goodwater Capital, with participation from Pantera Capital, Blockchain Capital, and Circle Ventures. Existing backers, including HSG (formerly Sequoia Capital China), also participated.
This "oversubscribed" Series B comes just three months after the company raised $47 million in a strategic round in September, which valued the firm at over $1 billion. Following a $40 million Series A earlier in the year, the latest raise brings RedotPay's total capital raised since inception to approximately $200 million.
Co-founder and CEO Michael Gao stated that the company only began actively raising capital in late 2024. He attributed the rapid follow-on fundraising to accelerated demand for the platform. "This financing allows us to scale infrastructure, compliance, and partnerships in line with that growth," Gao said. The Series B was structured entirely as equity, though the post-money valuation and details on board seats were not disclosed.
RedotPay reports significant operational growth, now boasting more than 6 million registered users across over 100 markets. The company's annualized payment volume exceeds $10 billion, nearly tripling year-over-year. In 2025 through November, the platform added over 3 million new users. RedotPay also claims to generate more than $150 million in annualized revenue and is operating profitably.
The company's product suite includes a stablecoin-based card for global spending, stablecoin-based global payout rails, and multi-currency wallet accounts provided by third-party licensed financial institutions. It also operates a peer-to-peer marketplace on its own infrastructure, designed to serve both crypto-native and non-crypto users with instant, predictable cross-border fund movement.
The new capital will be deployed across three key areas: product development, compliance and licensing, and strategic acquisitions. Gao emphasized the company remains "fundamentally product-driven," with funds directed at improving the core user experience. Acquisitions will target licensed payment institutions, acquiring platforms, and financial infrastructure providers, particularly in high-growth regions like the Middle East and North Africa. The company currently employs around 250 full-time staff and is hiring across engineering, product, and compliance teams.
Investors framed the round as a bet on stablecoins becoming integral to global payments. Jonah Burian, an investor at Blockchain Capital, highlighted the value proposition: "In many countries, consumers face currency risk, savings erosion due to inflation, and fragile local banking systems. Many would prefer to store value in assets they trust, such as dollars, bitcoin, or other digital assets, and spend in their local currency. RedotPay seeks to bridge this gap by giving consumers meaningful control over their financial destiny."
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