Volopay, a Singapore-based corporate cards provider and expense management startup, raised $29 million in Series A round as a mix of equity and debt.
The funding round saw participation from JAM Fund, Winklevoss Capital Management, Rapyd Ventures, and Accial Capital, along with fintech veterans such as Jeffrey Cruttenden, CEO of Acorns; Sweta Rau, Founder of White Ventures; Amrish Rau, CEO of Pine Labs; and Jitendra Gupta, Founder and CEO of Jupiter, along with Antler Global and VentureSouq.
The platform will use the funds for the upcoming market launches, building new complementary technologies, and hiring new talent. It will also invest in enhancing its integrations with popular ERPs, HRMs, and CRM software along with leading project management applications.