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Socially conscious fintech KogoPAY bags £1M to allow everyone access affordable digital currency

Image credits: KogoPAY

KogoPAY, a socially conscious banking and payments app startup that makes payment on the go, has secured £1 million in pre-Series A investment.

Funding from Asian investors

The funding came from major investors in Asia including Wealth Republic’s founders, Sujaree Junsawang and Sittichai Jittungtrong alongside four other reputable angel investors in Thailand serving as executives in public companies, private companies and private equity investment firms: Sukrit Surabotsopon, Sirikul Dhanasarnsilp, Suthasinee Pinprannee and Supavat Cholvanich.

This investment round follows previous investment from Singapore fintech company Lightnet and a successful raise on Crowdcube, the UK crowdfunding platform in 2019.

Sukrit Surabotsopon, one of the investors and the previous President of IRPC Public Co. Ltd commented: “We are delighted to support Narisa and KogoPAY, a fintech with incredible potential. We love to support her as a female founder and we love her vision of a sustainable business that works through social impact and financial inclusion. KogoPAY’s aspiration is to create an ecosystem that is more than a conventional business turning a profit. Her focus is on using innovative technology to empower and help others along the way too.”

Dr Narisa Chauvidul-Aw commented: “I am delighted that we have been able to raise funds with this group of angel investors. All of them are top executives managing large corporations and equity firms. Their knowledge and experience will bring so much value to us. They love what we do and we really like them. I’m looking forward to working with them in the near future.”

Access to affordable digital currency to everyone

Established in 2018 by Dr Narisa Chauvidul-Aw, the fintech is 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.

KogoPAY’s services include a banking platform and mobile wallet app for real-time local and cross border payments in both fiat and digital currencies. Chauvidul-Aw’s vision is to create a socially conscious ecosystem that will allow everyone to have access to affordable digital currency. Also, the company eyes to promote the ‘Pay it Forward’ concept.