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KogoPAY raises £1m

KogoPAY raises £1m

KogoPAY has raised £1 million in pre-Series A funding for it "socially-conscious" banking and payments platform.

The funding comes from angel investors in Asia and follows an investment from Singapore fintech Lightnet and a raise on UK crowdfunding platform Crowdcube.

Planning to launch soon in the UK, Lithuania and Thailand, KogoPAY will offer business-to-business international banking, fast wallet-to-wallet payments, a prepaid Mastercard, QR code payments and low-cost currency transfers.

The firm is targeting independent businesses and "community-focused" individuals by creating a "socially conscious ecosystem that will allow everyone to have access to affordable digital currency and to promote the ‘Pay it Forward’ concept of generosity and inclusion".

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