Singapore- and Bangkok-based payments platform 2C2P said it has set up a new investment arm to invest in fintech opportunities across Southeast Asia.
Photo credit: 2C2P
Called 2C2P.VC, the new entity is headquartered in Singapore and will be led by Eva Weber, who recently joined 2C2P’s management team as an investment director. Previously, Weber held several positions at companies such as Merrill Lynch, IFC, Naspers, and Adyen.
Weber told Tech in Asia that with 2C2P.VC, the company will focus on strengthening its core markets in the region, including Thailand, Indonesia, Malaysia, Myanmar, the Philippines, and Singapore. Additionally, the investment arm will be keeping an eye out for companies that can help it expand outside Southeast Asia.
“We evaluate each opportunity and determine the investment size and level of involvement we want to have accordingly. Generally speaking, we look to take a minority stake, with the view of increasing our stake over time,” Weber added.
According to 2C2P founder and group CEO Aung Kyaw Moe, the company sees 2C2P.VC as a “critical component” in its growth. The head exec noted that the company has been eyeing a number of firms that align with its strategy, particularly in terms of their technologies, products, or geographic presence in markets 2C2P plans to penetrate.
See also: How fintech pioneer 2C2P grew big by capturing the online travel market
The launch of 2C2P.VC follows the company’s major US$52 million raise last year, which involved participation from IFC, Cento Ventures, and Arbor Ventures. It was looking to use the new funds to enhance its payments platform, hire local talent, and extend its footprint beyond Southeast Asia.
Editing by Charmaine de Lazo
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
