Singapore's merchant-OS fintech Qashier raises US$6.125m after turning profitable on US$1bn annual payment volume

Summary

Qashier, a Singapore-based unified merchant operating system for Southeast Asia, raised US$6.125m in a Series A+ of equity and debt on 30 June 2026, led by Cocoon Capital with IFP Securities and BlackSoil Global plus strategic angels. It processes about US$1bn in annualised payment volume for more than 20,000 merchants across Singapore, Malaysia, Thailand and the Philippines, and says it has been profitable every month since December 2025, with annualised recurring revenue up 61%. The company has raised under US$20m in total. Proceeds fund regional expansion, omnichannel payments, embedded finance and AI workflow tools ahead of a planned Series B.

The split

Southeast Asian tech and venture outlets, the only ones covering it, frame Qashier as a counter-example to the region's cash-burning payments startups: small round, already profitable, capital-efficient. The story sits entirely within SEA fintech media, underlining that a profitable regional payments firm draws local attention rather than the global coverage a loss-making mega-round would.

By the numbers

• US$6.125m, Series A+ (equity and debt).
• US$1bn, annualised payment volume.
• 20,000+, merchants across four markets.
• 61%, annualised recurring revenue growth.
• Since December 2025, monthly profitability.

Why it matters

Profitability at a lean capital base is rare among payments firms at this scale, and a small, disciplined raise into a profitable Southeast Asian merchant platform signals a regional shift toward sustainable unit economics over growth-at-all-costs. It positions Qashier to consolidate small-merchant software across four fast-growing markets.

What to watch

• Whether the planned Series B arrives and at what valuation.
• Expansion beyond the four current markets into Indonesia or Vietnam.
• Whether embedded lending becomes a material revenue line.