FINTECH startup KPay intends to grow its Singapore merchant base to more than 10,000 businesses in the next year, from 3,000 now.

The Hong Kong-based startup also plans to double its Singapore workforce to more than 100 staff, it said in a release on Thursday (Apr 18).

The point-of-sale terminal provider was established in July 2020, with a niche of serving small and medium-sized enterprises (SMEs).

KPay’s other offerings include a SME financing venture, along with a business management platform.

It entered the Singapore market in June 2022. Within Asia, KPay now services more than 30,000 merchants, it said.

On Thursday, the fintech startup also announced the appointments of Lytous Zhou as chief product officer and Thomas Huang as general manager for Japan.

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Zhou has held leadership roles at enterprise collaboration platform Lark, Huawei and Tencent. Huang previously worked for Meituan and food delivery platform KeeTa.

The announcement comes a week after KPay launched its Singapore offices on Apr 12.

“Singapore’s role as a global financial nucleus offers unparalleled advantage, and will enable KPay to push the envelope further in digital payment innovations for the next generation of SMEs and merchants in this region,” said co-founder and chief executive officer Davis Chan.