Reap Acquisition, Valuation, Funding & Investors

Reap was acquired by Payward for $600M in May 2026.

See full Reap profile

Reap acquisition price

$600M

Acquired by Payward · May 2026

Cumulative funding Reap raised

$46M

across 3 funding rounds

Key investors in Reap

  • Hustle Fund
  • Fresco Capital
  • Index Ventures
  • Global Founders Capital
  • BAI capital
  • HashKey Capital
  • K3 Ventures
  • Oyster Ventures

Reap Overview

About Reap

Reap is a financial technology platform founded in 2018 that equips companies worldwide with card issuing APIs, expense management software, global payouts, and the Reap Visa Corporate Credit Card. With over 50 employees across offices in seven countries, it receives backing from investors such as Acorn Pacific Ventures, HashKey Capital, and Fresco Capital, enabling businesses to manage finances securely and efficiently.


Founded

2018

HQ

Hong KongHong Kong

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Valuation

$600M (acquired May 2026)

Reap Acquisition

Reap was acquired by Payward for $600M on 6 May 2026.

Before the acquisition Reap had raised $46M across 3 funding rounds.

Payward Inc., parent company of cryptocurrency exchange Kraken, agreed to acquire Hong Kong-based Reap Technologies Holdings Limited for up to $600 million in a mix of cash and stock. The deal implies an equity valuation of $20 billion for Payward and is expected to close in the second half of 2026, subject to regulatory approvals. The acquisition expands Payward's services into stablecoin-native card issuance and cross-border payments, boosting global payments infrastructure and accelerating B2B expansion in Asia. Reap nearly tripled its revenue in 2025, enhancing Payward's asset-based services including payments and custody. Reap operates as a stablecoin banking platform and payments infrastructure company based in Hong Kong, with prior funding of approximately $46-60 million. Payward combines digital asset exchange capabilities with unified financial infrastructure.

Reap acquisition details
AcquirerDateTypePrice
  • Payward
6 May 2026Strategic M&A$600M

Reap Funding History

Reap has raised a total of $46M across 3 funding rounds.

Reap's first fundraising round was a $1M seed round in October 2018. The most recent completed round was a $40M Series A in October 2022.

Reap funding rounds

Reap funding rounds
DateStageInvestorsRaisedDeal Summary
Oct 2022Series AAcorn Pacific Ventures (lead); Arcadia Funds; Fresco Capital; Abacus Ventures; Hustle Fund; HashKey Capital$40MReap is a Hong Kong-based fintech company founded in 2018 that powers global financial transactions through its Reap Visa Corporate Card platform, combining spend management software with payment products including payables management, international payments, collections, and corporate credit cards. The company raised $40 million in a Series A funding round on October 27, 2022, led by Acorn Pacific Ventures, Arcadia Funds, and HashKey Capital via a mix of equity and debt, with participation from returning investors Hustle Fund, Fresco Capital, Abacus Ventures, and co-investor Payment Asia. This followed a $5 million seed round in July 2020 led by Global Founders Capital and Bertelsmann Asia Investments. The funding aims to accelerate global market expansion, including setting up regional hubs in North America, Europe, and Greater China, hiring to double the team of over 40 employees across offices in Hong Kong, Australia, Canada, Japan, Malaysia, Singapore, and Vietnam by end-2023, and enhancing product development for go-to-market strategies. Reap claims to have doubled its revenue over the last year prior to the round and grown its client base to over 20,000, though specific revenue figures are not disclosed. Co-founders Daren Guo and Kevin Kang emphasized positioning for the next growth phase with industry-leading products. Lead investor Derek Chau from Acorn Pacific Ventures highlighted Reap's potential to address Asia's payments nuances, improving business cash flow, efficiency, and digital-first solutions. The company operates in the competitive B2B fintech space, focusing on financial connectivity for businesses of all sizes, with plans for management hires across Asia, North America, and Europe.
Jul 2020SeedGlobal Founders Capital (lead); Index Ventures; Fresco Capital; BAI capital; Hustle Fund$5M-
Oct 2018SeedFresco Capital (lead); Oyster Ventures; K3 Ventures; Hustle Fund$1M-

Who has invested in Reap?

11 investors have backed Reap across its funding rounds, including Hustle Fund, Fresco Capital, Index Ventures, Global Founders Capital, BAI capital and HashKey Capital.

Lead investors include Acorn Pacific Ventures, Global Founders Capital and Fresco Capital.


Reap Investors

Investors in Reap by funding rounds participated
InvestorHQRoundsRoleFirst check
Fresco CapitalUnited StatesSan Francisco, CA3LeadOct 2018
Hustle FundUnited StatesSan Francisco, CA3ParticipantOct 2018
Oyster VenturesUnited StatesSan Francisco, CA1ParticipantOct 2018
Index VenturesUnited KingdomLondon1ParticipantJul 2020
Arcadia FundsUnited StatesUnited States1ParticipantOct 2022
Acorn Pacific VenturesUnited StatesSan Jose, CA1LeadOct 2022
Abacus VenturesUnited StatesUnited States1ParticipantOct 2022
Global Founders CapitalGermanyBerlin1LeadJul 2020
BAI capitalChinaBeijing1ParticipantJul 2020

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Reap Competitors

Reap competitors include listed companies like Abaxx Technologies and Sunyard Technology, and private ones like Form3, M2P Fintech, Payactiv and Spreedly.

Public and private companies comparable to Reap
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Form3United KingdomLondonPrivate--$570M-
M2P FintechIndiaIndiaPrivate$54M-$701M13.0x
Abaxx TechnologiesCanadaCanadaPublicly listed$749K($28M)$503M136.9x
PayactivUnited StatesSan Jose, CAPrivate--$500M-
SpreedlyUnited StatesUnited StatesPrivate--$500M-
Sunyard TechnologyChinaChinaPublicly listed$307M$10M$722M-
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Alfa Financial Software$170M$58M3.5x3.4x10.3x10.4x
FINEOS$159M$35M3.2x3.0x14.5x12.4x
Client Service International$88M($46M)7.5x-(14.3x)-
AMTD Digital$59M$18M19.5x-62.9x-
Brilliance Technology$160M$2M3.5x2.5x364.9x61.5x
Shanghai Amarsoft$153M$8M4.6x-90.4x-
JinXianDai Information$46M($10M)10.1x-(47.7x)-
Linkage Software$157M$24M2.7x4.2x17.7x14.2x

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Common questions about Reap

When was Reap founded?Reap was founded in 2018.
Where is Reap headquartered?Reap is headquartered in Hong Kong, Hong Kong.
Is Reap publicly listed?No, Reap was acquired by Payward in May 2026.
Who acquired Reap?Reap was acquired by Payward in May 2026.
How much was Reap acquired for?Reap was acquired for $600M in May 2026.
How much funding has Reap raised?Reap has raised $46M across 3 funding rounds.
What was Reap's last funding round?Reap's last funding round was a $40M Series A in October 2022, led by Acorn Pacific Ventures.
Who are Reap's investors?Reap's investors include Fresco Capital, Hustle Fund, Oyster Ventures, Index Ventures, Arcadia Funds, Acorn Pacific Ventures, Abacus Ventures, Global Founders Capital, BAI capital, K3 Ventures and 1 other.
Which companies are comparable to Reap?Companies comparable to Reap include Form3, M2P Fintech, Abaxx Technologies, Payactiv, Spreedly and Sunyard Technology.

See companies similar to Reap

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