Headquartered in Hong Kong, Acorn Pacific Ventures, HashKey Capital, and Arcadia Funds led a series A fundraising round for B2B FinTech company Reap, which raised $40 million in the United States. The business has already successfully raised a total of US $46 million.
Reap, a company founded in 2018 by Daren Guo and Kevin Kang, provides users with access to payables administration as well as global payments and collections. The business may help operational firms save money by using its data. Additionally, it introduced the Visa Reap Card, which enables corporate employees to make purchases and charge costs that are not compatible with a standard business card.
Acer, Binance, Animoca Brands, Layer Zero, Wallem Group, and SompoInsurance are just a few of the more than 20,000 businesses the company works within the Web2 and Web3 industries.
Reap noted that during the previous year, its income had doubled.
A team of 40 people from Hong Kong, Singapore, Malaysia, Vietnam, Japan, Canada, and Australia makes up the startup. It intends to open offices in these places.
With the additional capital, Reap plans to employ key management personnel throughout North America, Asia, and Europe in order to treble its workforce by the end of the next year. Additionally, it will try to establish regional centers in Greater China, Europe, and North America.
