Singapore Payments Platform Launches Venture Capital Arm
(14 April 2020 – Singapore) Singapore and Bangkok-based payments firm 2C2P is setting up a new investment arm to invest in financial technology (fintech) opportunities across Southeast Asia.
Titled ‘2C2P.VC’, the new entity is headquartered in Singapore and will be led by Eva Weber, who recently joined the company as investment director.
The primary focus of the investment arm is on strategic partnerships and investments in complementary businesses that offer opportunities for further vertical integration and geographic expansion outside of 2C2P’s core markets.
According to 2C2P founder and group CEO Aung Kyaw Moe, the business is setting aside about S$15 million or 30 percent of its last S$52 million fundraise as capital.
“We are excited to announce the launch of our own investment arm, which we see as a critical component of our growth strategy. There are a number of companies where we see a strong strategic fit – either due to exciting new technologies, complementary products or geographic presence in markets where we want to be in the future” Aung said.
“Above all, we look for teams who want to join our growth journey. With our latest funding round in 2019, we are now in a position to invest in such companies and partner with them even more closely going forward” he added.
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