2C2P’s numbers paint a rosy picture

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Hello reader,

This year has been one of significant self-discovery and growth for me.

I went on my first-ever solo trip; I watched a concert for the first time in – no joke – 20 years; I’ve moderated stage sessions at three conferences and counting. We’re only a bit over halfway done with 2024, but I’m already plenty fulfilled.

Of course, the journey goes on. Just because I’ve done so much already doesn’t mean I’m done for the year. There’s still a lot to learn and do.

In today’s premium article, we take a look at fintech firm 2C2P’s latest numbers and what lies behind them. I won’t spoil it, but the company certainly appears to be on a similar upward trajectory that I’m currently enjoying.

Today we look at:

• What’s behind 2C2P’s great numbers
• Temu hitting a snag in Thailand
• Other newsy highlights such as Tencent joining Moonshot’s US$300-plus million funding round and Chinese firms finding ways to get around expected US semiconductor chip sanctions

Premium summary

Growth comes from opening yourself up

Image credit: Timmy Loen

My solo trip was also my first time traveling overseas for a concert. What’s more, I don’t have any friends who liked the group, so I looked for and connected with someone on Reddit who was also traveling to Bangkok for the concert.

While there, I took a private guided tour of Chinatown and reconnected with an old friend. For an introvert, it was a holiday of high adventure, and I’m glad the risks – perceived or otherwise – paid off.

Fintech firm 2C2P’s fancy numbers also appear to be the result of several different measures and initiatives.

• What it do, baby: The company offers payment solutions that help businesses send and receive money across borders. It also provides specialized services for airlines, social commerce firms, and credit card issuers across 10 markets.
• Operation collaboration: Since its acquisition by Chinese fintech major Ant Group in 2022, 2C2P has signed several partnerships with big-name brands like Ikea and Asus. It has also collaborated with Indian payments firm Pine Labs to offer buy now, pay later services across six Asian markets.
• Good results: These efforts appear to have paid off, with 2C2P recording a 5% increase in revenue between 2022 and 2023. While the firm’s losses shrank by 93% over the same period, a closer look at its financials indicates that this came as a result of share-based payments in 2022 falling out of the picture the following year.

Thailand vs. Temu

Forget catching up – it’s time to leapfrog your competition

Quick bytes