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Singapore-based Volopay accelerates APAC and MENA expansion with $29M Series A


Volopay, a Singapore-based fintech startup, raised a $29 million Series A in debt and equity financing as it seeks to further expand its footprint in Asia-Pacific, the Middle East and North Africa. 
To date, Volopay has raised approximately $31.4 million since its inception in 2019, which includes its $2.1 million seed round last January, co-founder and CEO Rajith Shaji told TechCrunch. The executive did not provide Volopay’s valuation. 
Volopay, founded by Shaji and the startup’s chief technology officer Rajesh Raikwar, wants to disrupt traditional business banking and offer companies a control center for all their financial management needs without the hassle and limitation of a traditional bank. 
The startup will use the Series A proceeds to build new technologies that complement its existing product and enhance its integration with enterprise resource planning, human resource management and customer relationship management software. In addition, Volopay will hire aggressively in each of its new markets. 
Volopay’s platform provides startups and enterprises flexibility by issuing virtual and/or physi …

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