Singapore-based mobile payments process MC Payment raised a $3.5m venture round led by 2W Group.
MC Payment hasn’t always moved this fast. The Singapore-based startup was founded in 2005 and has worked quietly behind the scenes, developing payment applications and point-of-sale systems. It was one of the first startups that looked into mobile payments on pre-iPhone smartphones. The company’s most recent product is Xaavan, a business-to-business supply chain and online invoicing system. Other solutions include mobile point-of-sale system Ffastpay for retailers and merchants; taxi company payment system MatchCab; and non-cash payment and e-wallet systems, partnering with payment schemes like MasterPass and NETS.