Singapore-based digital payments startup dtcpay (formerly Digital Treasures Center) has closed a $16.5 million Series A round led by Kwee Liong Tek, Chairman of Pontiac Land, with participation from David Tung, former Managing Director and Partner of Carlyle Group, Jean-Marc Poullet, Chairman of Burgess Asia, and Tham Sai Choy, former Chairman of KPMG Singapore and Asia Pacific. This round of financing will be used for product development, strengthening operations and infrastructure capability, and expanding its global presence.
Founded in 2019, dtcpay offers services including account issuance, domestic money transfer, cross-border money transfer, merchant acquisition, e-money issuance and digital payment token services. It offers payment processing for users transacting across fiat and digital currencies.
Related: Digital Payment Company dtcpay to expand to Hong Kong and Integrate with WeChat Pay
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