Web3 Payment Company Reap Closes $40 Million Round Led by HashKey Capital and Others

Hong Kong-based Web3 payment company Reap closed a $40 million round led by HashKey, Acorn Pacific Ventures and Arcadia Funds, with participation from Payment Asia, Hustle Fund, Fresco Capital and others. The funds raised will be used to set up regional hubs throughout Asia, North American and Europe, and to scale the team.

Reap aims to develop infrastructure to help facilitate payments between Web3 projects and traditional businesses. The infrastructure is expected to launch as early as January.