Southeast Asian payments platform 2C2P Pte, which helps airlines, travel companies and online shopping malls handle payments from customers in the region, has raised $52 million from investors including the World Bank’s International Finance Corp., Cento Ventures and Arbor Ventures to fund expansion.
The new funding round will bolster the company’s position in Southeast Asia’s burgeoning digital payments market as more customers move online to shop, order meals and book flights and hotel rooms. Driven by new technologies and startups, the region’s financial services are undergoing a rapid transformation. Digital payments in the region are projected to exceed $1 trillion by 2025, from $600 million in 2019, according to a recent study by Bain & Co., Google and Temasek Holdings Pte.
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