RedotPay raises $107 million in funding! Annualized trading of $10 billion in stablecoin payments explodes

Hong Kong-based fintech company RedotPay has completed a $107 million Series B funding round led by Goodwater Capital, with participation from Pantera Capital, Blockchain Capital, and others. RedotPay reports an annualized payment volume exceeding $10 billion, annualized revenue surpassing $150 million, and profitable operations.

The Crazy Pace of Two Funding Rounds in Three Months

(Source: RedotPay)

RedotPay’s Series B funding was “over-subscribed,” just about three months after the company completed a $47 million strategic financing in September. At that time, RedotPay’s valuation exceeded $1 billion, officially entering the unicorn club. Previously, RedotPay also completed a $40 million Series A round earlier this year. Such a dense funding pace is extremely rare in the fintech sector.

RedotPay co-founder and CEO Michael Gao explained the reason for the rapid fundraising: “We only started actively raising funds until the end of 2024.” When asked why RedotPay was able to raise funds so quickly after the most recent round, Gao said that market demand for the platform is accelerating. “This financing allows us to expand infrastructure, compliance, and partnerships in line with business growth.”

The Series B round was entirely equity-based. Although Gao declined to disclose RedotPay’s post-investment valuation, given that the valuation was over $1 billion three months ago and the round was oversubscribed, industry experts generally expect RedotPay’s valuation has significantly increased. This oversubscription reflects strong investor confidence in the stablecoin payment track and recognition of RedotPay’s business model.

In terms of investor lineup, RedotPay has received backing from both the cryptocurrency and traditional finance sectors. Pantera Capital and Blockchain Capital are top-tier investment firms in the crypto space. Circle Ventures, the investment arm of USDC issuer Circle, participating indicates RedotPay’s strategic position within the stablecoin ecosystem. Continued support from existing investor HSG (formerly Sequoia China) demonstrates RedotPay’s long-term value.

The Stablecoin Payment Revolution Behind $10 Billion in Transactions

RedotPay reports that its annualized payment volume exceeds $10 billion, with nearly triple growth year-over-year. This figure is highly competitive in the stablecoin payment field. Even more impressive, RedotPay expects to have over 3 million new users join the platform by November 2025, pushing the total user base beyond 9 million. RedotPay also states that its annualized revenue exceeds $150 million and that it has achieved profitable operations.

Achieving profitability in fintech is a significant milestone. Many payment companies incur long-term losses while pursuing scale expansion, but RedotPay’s ability to maintain high growth and turn profitable indicates a healthy business model. An annualized revenue of $150 million suggests high monetization efficiency, likely driven by transaction fees, foreign exchange spreads, and value-added services.

Blockchain Capital investor Jonah Burian commented: “In many countries, consumers face currency risks, savings erosion due to inflation, and fragile local banking systems. Many prefer to store value in trusted assets like USD, Bitcoin, or other digital assets, and spend in their local currency. RedotPay aims to bridge this gap, enabling consumers to truly control their financial destiny.”

This commentary reveals RedotPay’s core value proposition. In emerging markets, currency devaluation and unstable banking systems are common issues. RedotPay allows users to hold stablecoins as a store of value and spend globally via its payment card. This capability is especially attractive in countries like Argentina, Turkey, and Nigeria with high inflation.

From Payment Cards to Financial Infrastructure Ecosystem

RedotPay’s product portfolio has expanded beyond simple payment cards to form a comprehensive stablecoin financial ecosystem. The company’s core products include stablecoin-based payment cards that allow users to spend digital assets worldwide; a global payment pipeline based on stablecoins; and multi-currency wallet accounts provided through licensed financial institutions, enabling access to stablecoins. RedotPay also operates a peer-to-peer trading platform built on its own infrastructure.

RedotPay states that its platform aims to serve both cryptocurrency users and non-cryptocurrency users by enabling real-time, predictable cross-border fund flows. This dual-track strategy allows RedotPay to serve crypto-native users while also attracting traditional financial users. For the latter, they may not care about the underlying blockchain technology but simply need a cheaper, faster cross-border payment solution.

Gao mentioned that RedotPay has “a large user base” in the Middle East and North Africa, and added that the company is expanding in regions where strong natural demand has already been observed. The Middle East and North Africa markets are strategically important for RedotPay, with high cross-border remittance needs and a high acceptance of digital payments.

RedotPay’s Three Main Uses of Funds

Product-Centric Development: Most funds are allocated to improving core user experience based on customer feedback to maintain product competitiveness.

Compliance and Licensing Expansion: Through acquisitions of licensed payment institutions, acquiring platforms, and financial infrastructure providers, expanding regulatory license coverage.

Strategic Acquisition Layout: Target markets include regions aligned with RedotPay’s fastest-growing user base, especially in the Middle East and North Africa.

RedotPay currently has about 250 full-time employees. Gao said the company is recruiting talent across engineering, product, and compliance teams. As the business scales, RedotPay’s team may double within the next year.