RedotPay Lost 5 Execs, Eyes ₱8.96 billion ($150 million) Round After ₱11.58 billion ($194 million) Haul
RedotPay is exploring a ₱8.96 billion ($150 million) funding round to reach a ₱238.82 billion ($4 billion) valuation and pursue a US IPO, even as the Hong Kong-based stablecoin payments company faced five senior executive departures in the past year, including two compliance chiefs.
Key Takeaway
RedotPay's executive churn and aggressive fundraising signal growing pains as it scales toward a potential billion-dollar IPO.
At least five senior executives left RedotPay within a year, including two compliance chiefs, according to a Bloomberg report published Wednesday.
The Hong Kong-based stablecoin payments company raised $194 million across three funding rounds in 2025 alone. A $40 million Series A closed in March led by Lightspeed, followed by a $47 million strategic round in September with Coinbase Ventures, then a $107 million Series B in December led by Goodwater Capital.
RedotPay CEO Michael Gao and the chief operating officer continue to lead key functions, the company told Cointelegraph 22 minutes before the article went live. One co-founder now oversees finance, investor relations, and corporate development. The CFO position remains unfilled, though RedotPay said it may appoint one later as the need arises.
Bloomberg's report flagged executive turnover, China sensitivities, demanding work culture, and extended hours. RedotPay countered that it's evolving from an early-stage startup to a unicorn, adjusting its organizational structure and talent pool to support growth. The company said it has no urgency to secure new funding, citing strong operating cash flow and liquidity, though it remains open to investors.
RedotPay is exploring a $150 million funding round and targeting a company valuation above $4 billion, according to Bloomberg. The firm is also considering a US IPO with JPMorgan, Goldman Sachs, and Jefferies reported as advisors.
The company offers an app paired with a Visa card for stablecoin spending, yield services, and remittance features. RedotPay operates in over 100 markets and employs more than 250 people globally, with the majority based in Hong Kong.
This article was written based on reporting from Cointelegraph.
