RedotPay, Crypto Payments Firm, raise $40M Series A Led by Lightspeed

March 14, 2025

RedotPay, a cryptocurrency payment platform based in Hong Kong, has closed a $40 million Series A funding round. Lightspeed led the investment, with additional backing from HSG and Galaxy Ventures. The company facilitates crypto payments in everyday transactions, aiming to bridge the gap between blockchain-based assets and conventional financial systems.

Since launching its physical Visa card in November 2023, RedotPay has introduced several products designed to expand crypto accessibility. The Visa card allows users to withdraw cash from ATMs, while a virtual version integrates with Apple Pay and Google Pay for online and in-store purchases. The company has also broadened its blockchain support, adding Solana in December 2024 and Ethereum’s layer 2 network Arbitrum in February. In addition, partnerships with StraitX and Visa have positioned RedotPay as a service provider for crypto-based retail transactions in Singapore.

Despite its expansion, the platform appears to have geographic restrictions. Visitors attempting to access the company’s website from outside Hong Kong are met with a notification regarding service availability.

About RedotPay

RedotPay is a cryptocurrency payment company offering solutions that enable digital assets to be used for everyday spending. The firm provides physical and virtual Visa cards that allow users to make payments and withdraw cash using crypto. RedotPay has integrated multiple blockchain networks, including Solana and Arbitrum, as part of its effort to support a broader range of digital currencies.

Website: https://www.redotpay.com/

X: @RedotPay

About Investor

Lightspeed

Lightspeed is a venture capital firm investing in early-stage and growth-stage companies across sectors such as fintech, enterprise, and consumer technology. The firm has backed multiple blockchain and cryptocurrency startups, focusing on emerging financial technologies.

Location: Montreal, Canada

Website: https://lsvp.com/

A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.