Thailand-based payment technology provider 2C2P secured $7m in series C funding today from GMO Venture Partners, the corporate venturing arm of internet company GMO, and advisory firm Amun Capital.
Founded in 2003, 2C2P provides online payment services and technology in countries across Southeast Asia including Singapore, Indonesia, Cambodia, the Philippines, Malaysia, Hong Kong and, most recently, Myanmar, which it entered in February this year.
2C2P will invest the funding in expanding its market share in the region as well as the range of services it provides, and in product development and recruitment.
The funding took 2C2P’s overall funding to more than $10m, following an undisclosed amount of seed funding from Expara IDM Ventures, $1m in series A capital from Digital Media Partners in 2011 and $2m from GMO Venture Partners, which invested $500,000, and an undisclosed additional investor in 2013.
GMO Global Payment Fund, a subsidiary of GMO, subsequently invested an undisclosed amount in 2C2P in June 2014 as part of a strategic partnership.