Rapid Ventures, fintech giant Jeffrey Krutenden, White Ventures founder Sweta Rao, Pine Labs CEO Amrish Rao and Jupiter founder and CEO Jitendra Gupta; Antler Global and VentureSook also participated in the round.
The Singapore-based company said in a statement that the funding is a mix of equity and debt capital.
Volopay is now eyeing the West Asian markets as well as the entire Asia Pacific region.
The company sells customers a “financial control center,” which combines business accounts, corporate cards, bill payments, expense reimbursement, credit, cashback and accounting automation into a single platform.
“Volopay is an ambitious project. To be an alternative to Volopay, you have to launch five different startups,” said Rajith Shaji, co-founder of Volopa.
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“We are building control centers for modern companies for all their financial management needs. Our platform is as easy to use and seamless for a 5-person company as it is for a 500-person company.”
Clients include CoinDCX, MPL, InVideo and MX Media.
It has more than 150 employees in business centers in Singapore, Australia, India, Indonesia and the Philippines.
“We’ve known and worked closely with the amazing team at Volopay from the pre-seed stage,” said Justin Matin, Tinder co-founder and founder of Jam Fund. “We are delighted to be working with a leader in this field and helping them reach new heights.”
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