The funding will enable dtcpay to invest in product development, build more robust operations and infrastructure capabilities as well as expand the startup’s global presence.
Singapore-based digital payments platform, dtcpay, has raised US$16.5 million ($22.2 million) in a pre-Series A funding round. The platform provides seamless conversions of fiat and digital currencies under a single platform by a regulated trusted provider.
The round was led by Kwee Liong Tek, chairman of luxury real estate developer Pontiac Land Group. The group owns and operates properties that include the Capella Hotel Group and Millenia Singapore, which counts Singapore’s Ritz-Carlton and Conrad hotels under its portfolio.
