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- Reap
Reap Acquisition, Valuation, Funding & Investors
Reap was acquired by Payward for $600M in May 2026.
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
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
Website
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.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 6 May 2026 | Strategic 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
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Oct 2022 | Series A | Acorn Pacific Ventures (lead); Arcadia Funds; Fresco Capital; Abacus Ventures; Hustle Fund; HashKey Capital | $40M | Reap 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 2020 | Seed | Global Founders Capital (lead); Index Ventures; Fresco Capital; BAI capital; Hustle Fund | $5M | - |
| Oct 2018 | Seed | Fresco 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Oct 2018 | ||
| 3 | Participant | Oct 2018 | ||
| 1 | Participant | Oct 2018 | ||
| 1 | Participant | Jul 2020 | ||
| 1 | Participant | Oct 2022 | ||
| 1 | Lead | Oct 2022 | ||
| 1 | Participant | Oct 2022 | ||
| 1 | Lead | Jul 2020 | ||
| 1 | Participant | Jul 2020 | ||
This data is available for Pro users. Sign up to see all 11 Reap investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialReap Competitors
Reap competitors include listed companies like Abaxx Technologies and Sunyard Technology, and private ones like Form3, M2P Fintech, Payactiv and Spreedly.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $570M | - | ||
| Private | $54M | - | $701M | 13.0x | ||
| Publicly listed | $749K | ($28M) | $503M | 136.9x | ||
| Private | - | - | $500M | - | ||
| Private | - | - | $500M | - | ||
| Publicly listed | $307M | $10M | $722M | - |
Reap Public Comps
Reap is no longer listed, but its public comps include Alfa Financial Software, FINEOS, Client Service International, AMTD Digital, Brilliance Technology, Shanghai Amarsoft, JinXianDai Information, Linkage Software, Abaxx Technologies and Hightech Payment Systems.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $170M | $58M | 3.5x | 3.4x | 10.3x | 10.4x | |||
| $159M | $35M | 3.2x | 3.0x | 14.5x | 12.4x | |||
| $88M | ($46M) | 7.5x | - | (14.3x) | - | |||
| $59M | $18M | 19.5x | - | 62.9x | - | |||
| $160M | $2M | 3.5x | 2.5x | 364.9x | 61.5x | |||
| $153M | $8M | 4.6x | - | 90.4x | - | |||
| $46M | ($10M) | 10.1x | - | (47.7x) | - | |||
| $157M | $24M | 2.7x | 4.2x | 17.7x | 14.2x | |||
This data is available for Pro users. Sign up to see all Reap competitors and their valuation data. Start Free Trial | ||||||||
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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