Founded in 2011, the e-payment startup also operates in Indonesia and Thailand
Singapore-based e-payment startup Red Dot Payment today announced that it has secured a ‘seven-digit’ US Dollar funding round led by MDI Ventures, according to a report by DailySocial.
GMO Investment Partners, Wavemaker Partners, and Skype co-founder Toivo Annus also participated in this round. The investors had also participated in the startup’s Series A round in 2014.
The startup will use the fund to support its regional expansion plan and talent acquisition.
“The payment gateway sector continues to grow with the increasing adoption of e-commerce and online transaction in the region. Different types of industries will need a more focussed solution for its specific needs. Red Dot Payment provides this advantage with its technology that serves markets with specific needs,” said MDI Ventures CEO Nicko Widjaja.
He also stressed MDI Ventures’ commitment to continue on investing in the online enabler category.
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Red Dot was founded in 2011 by former VISA and First Data executive, Randy Tan. The startup also has operations in Indonesia and Thailand.
Its main focus is to help businesses in the travel, charity, and insurance sectors.
As a venture capital arm of Indonesian state-own telco operator Telkom, MDI Ventures recently made headlines with its international expansion. It has recently formed a partnership with Australia-based Telstra Ventures and invested up to US$10 million to e-commerce enabler aCommerce.
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