HitPay Payment Solutions Pte Ltd

HitPay Payment Solutions Pte Ltd is a Singapore-based company that provides an all-in-one payment processing platform tailored to meet the needs of growing businesses, facilitating seamless transactions for eCommerce, retail, and service sectors. Founded in 2016, HitPay Payment Solutions Pte Ltd operates as a payment processing service, focusing on online and point-of-sale solutions. The company is headquartered in Singapore. The CEO and founder, Aditya Haripurkar, has a background in creating innovative financial technology solutions.

In April 2022, HitPay raised USD 18. 44 mn in Series A funding led by Tiger Global Management, with participation from Rocket Internet SE and returning investors such as Global Founders Capital, Y Combinator, and HOF Capital. This funding marked a significant milestone, bringing the total amount raised to USD 18. 44 mn, with a current company valuation of USD 75.

75 mn. HitPay offers a comprehensive payment processing platform designed for a variety of business needs. Its core services include online payments, point-of-sale (POS) solutions, and B2B payment options, allowing businesses to streamline their transaction processes. HitPay's platform includes features such as customizable checkout pages, invoicing tools, and recurring billing solutions, aimed at enhancing user experience and providing insights into sales performance.

The company serves small to medium-sized enterprises across markets like Singapore, Malaysia, Indonesia, and the Philippines, focusing on improving operational efficiency through its diverse payment solutions. In the most recent fiscal year of 2023, HitPay reported a revenue of USD 3,641,595, with an EBITDA of USD -2,567,208. The company's revenue structure is primarily based on transaction fees and subscription plans that cater to different business tiers. Clients access services through various pricing plans, such as the Locally Gold Plan and the Silver Plan, allowing businesses to efficiently manage their payment processing needs.

HitPay aims to leverage the recent Series A funding of USD 18. 44 mn, secured in April 2022, for product development and hiring to enhance its service offerings. The company is focused on expanding its market presence in Southeast Asia, specifically targeting new opportunities in Malaysia and Indonesia by the end of 2023. Additionally, HitPay is developing new features to improve its payment processing capabilities, which are expected to be launched within the next year.