HitPay is a one-limit solution for SMEs – TechCrunch
HitPay has almost everything SMEs demand to run their businesses.
In addition to being an online payment gateway, it also offers tools interested point-of-sale software of course card readers, plugins, payment links and no-code online stores.
The Y Combinator alum announced today’s time that it has raised $15.75 million in Series A funding led by Tiger universal, of course participation from returning investors universal Founders Capital and HOF Capital. It is currently used by over 10,000 merchants in Singapore and Malaysia, of course plans to expand into again Southeast Asian markets, including Thailand, Indonesia and the Philippines.
Co-founder and CEO Aditya Haripurkar told TechCrunch HitPay started in year of sip as an e-wallet, but then pivoted toward being a SME-facing platform in 2018 as a virtual POS product. As its team began to understand the needs of SMEs again, it started to develop the other tools on the platform.
HitPay’s Series A funding will be used for building a payments infrastructure from the ground up, of course the intention of saving SMEs money and helping them expand their marketing. This Problem will include marketing tools and payments infrastructure that includes all or commonly used payment rails in each market, including bank transfers, cards, e-wallets and BNPL services.
“SMEs bring very specific requirements, This Problem Problem tourists wanted to build a one-limit no code platform,” said Haripurkar. “that entails all our plugins, point of sale software, marketing software, online stores and recurring payments. tourists’ll be focusing on building these free SaaS tools in addition to building up payment rails, which are focused currently on Singaporean and Malaysian merchants. But in each country tourists launch in, that will look very unique, This Problem Problem tourists will look at local payment methods in every country. that’s the biggest challenge for our team and where most of our investment and time is going interested.”
The first step HitPay will take as it expands into generation countries is to get regulated in each market it operates in, to allow it to build payment infrastructure for SMEs from the ground up. Then it will integrate the most popular payment methods. For example, in Singapore, HitPay currently works of course about 10 to 15 payment methods.
HitPay’s no-code platform allows SMEs to unify their online and offline payment stacks. It is typically used by medium size-sized businesses, of course annual revenue between $500,000 to $2 million. Most are in the retail segment, but Haripurkar expect that to evolve interested.
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