Headquartered both in Singapore and Bangkok, 2C2P recently raised $52 million from investors including World Bank’s International Finance Corp., Cento Ventures, and Arbor Ventures.
As a B2B payment solution focused company, 2C2P helps airlines, travel companies, and online shopping malls handle digital payments from customers in Southeast Asia.
It will use the new fund to fortify its position in Southeast Asia’s mushrooming digital payment market as more customers prefer to go online to shop, order meals, and book flights and hotel rooms.
Founded in Bangkok in 2003, 2C2P aims to expand beyond Southeast Asia despite a large number of untapped areas for growth in the Southeast Asia market.
Gathered from a study, Bain & Co., Google and Temasek Holdings Pte. predicts Southeast Asia's digital payment transactions will hit $1 trillion in 2025 compared to the region’s previous $600 million in 2019.
“We know what they need, how they want to collect payments, and we can build it for them,” CEO Aung Kyaw Moe said about the company’s focus on serving corporate clients.