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Mobile Payments

Citcon raises USD 5 mln for global expansion of mobile payments

Monday 22 April 2019 | 10:40 AM CET

Citcon, a cross-border mobile payment and commerce solution provider, has announced that it has raised USD 5 million from East West Bank.

As a strategic investor for the Series B financing round, East West Bank has brought the total financing for Citcon to USD 15 million to date. According to the company, the funds will be used to drive global growth, broaden its suite of product applications, and expand teams. East West Bank joins a group of investors that include Zhen Fund, HEDA Capital, Cyber Wisdom, Lightbridge Ventures, and TEEC Angel Fund.

Founded in 2015, Citcon introduced China’s largest QR-based mobile wallets Alipay, WeChat Pay, and UnionPay to North America, connecting global merchants with billions of Chinese consumers across retail, hospitality, and ecommerce segments, integrating cross-border payments, marketing, and ecommerce solutions.

East West Bank, a wholly owned subsidiary of East West Bancorp, is an independent US-based bank that operates over 130 locations worldwide.

More: Link
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