KPay, a financial management platform based in Hong Kong, has raised US$55 million in a series A funding round.

The round was led by Apis Partners, a London-based investment firm.

The company plans to use the funds for product development and market expansion across Asia.

Founded three years ago, KPay provides financial services for small and medium-sized businesses (SMBs).

Currently, the platform serves 45,000 merchants in Hong Kong, Singapore, and Japan.