Red Dot Payment closes its Series B on $5.2m

Singapore-based Red Dot Payment has closed its Series B funding round picking up around $5.2m, which the company will use to improve its infrastructure.

Investors to the round include GMO Venture Partners, Wavemaker Partners, MDI Ventures and Skype co-founder Toivo Annus, with them all increasing their stake in the company. Also taking part in the round was new investor DORR Group.

Founded in 2011, Red Dot Payment is an online payment solutions provider for the Asia Pacific market. Offerings from the company include online payments, online invoicing, alternative payments, one-click payments, recurring payments and e-commerce payment system.

The company is partnered with banks, merchants, credit card associations, online payment gateways, non-banking financial institutions, security and fraud management system providers, according to the company.

This capital will be used to boost and develop the technical infrastructure and add to its team to help with the growing needs in the region.

The company plans to receive more integration and development requests from merchants that want to improve data management and efficiency.

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