HitPay provides SMEs with an integrated payments gateway plus tools such as point-of-sale software with card readers, plugins, payment links and no-code online stores. The platform is designed to unify online and offline payment stacks and to serve medium-sized businesses, typically those with annual revenue between $500,000 and $2 million. It is currently used by more than 10,000 merchants in Singapore and Malaysia. HitPay began in 2016 as an e-wallet and pivoted in 2018 to focus on SME-facing virtual POS and broader business tools. The company plans to expand into additional Southeast Asian markets including Thailand, Indonesia and the Philippines, and will seek local regulation in each market. Product roadmap and capital will be directed at building payments infrastructure and free SaaS business tools, plus integrating local payment rails (bank transfers, cards, e-wallets and BNPL) per market.

Total raised

$16M

Funding rounds

1

Latest round

Series A

Latest activity

May 2022