Singapore based electronic payment firm, MC Payment said Friday it has raised S$5 million ($3.5 million) led by 2W Group, an investment firm from Thailand. Australia’s Aura Funds Management, tryb Capital and Perle Ventures, also participated in the funding round, the company added.
Singapore-based 2W Group has raised SGD 5m ($3.5m) in a Series C round of funding, led by Thai investment firm MC Payment. The funds will be used for expansion into Malaysia, Australia and Hong Kong, as well as strengthening its presence in existing markets. In August, the company raised SGD 6m ($4.5m) in a Series B round led by ESW Manage. 2W Group's services include invoicing and payment platform Xaavan, MatchCab where taxi companies can make e-payments, and digital wallet MasterPass.