GMO Global Payment Fund invested an undisclosed amount in 2C2P, a Thailand-based payment processing company in which it had already invested USD 500k in 2013. The company was valued at USD 16M before the new round of investment.
2C2P has offices in Cambodia, Hong Kong, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, and Thailand.
Ryu Muramatsu, director and founding partner of GMO Venture Partners, explained the reasoning behind the latest round to Tech in Asia.
“We have been a shareholder of 2C2P for almost two years. I know its strong position in Thailand, not only by providing credit card payment services, but also other alternative payment methods. It also has the ability to expand in the region. We provide our payment service, Global Payment, to our Japanese merchants who want to sell in Thailand and other countries in Southeast Asia. 2C2P provides us their great local payment services.”
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