Hong Kong-based fintech RedotPay is currently in discussions regarding a pre-IPO funding round. The company aims to achieve a valuation between $4 billion and $5 billion through this investment.
The firm provides physical and virtual cards for cryptocurrency transactions, focusing primarily on stablecoins. Its service allows users to utilize digital assets for daily expenses, such as bill payments.
RedotPay reports a global workforce of 280 employees and a customer base exceeding 9 million users. The company reached an annualized run-rate revenue of $100 million within 18 months of its 2023 launch, with current figures surpassing $180 million.
Financial performance for the first three quarters of 2026 shows a revenue increase of over 50% compared to the same period in 2025. Additionally, the company's operating profit margin has risen to more than 50%.
Earlier in February, reports indicated that RedotPay was considering a U.S. IPO with a potential target of raising more than $1 billion. The company has also faced regulatory challenges in recent months.
