TechFlow news — According to Forbes, Hong Kong-based Web3 payment company Reap has announced the completion of a new funding round of $40 million, led by Acorn Pacific Ventures, Arcadia Funds, and HashKey Capital, with participation from Payment Asia, Hustle Fund, and Fresco Capital.
Reap plans to use the new funds to develop infrastructure that facilitates payments between Web3 projects and traditional enterprises. The company also intends to establish regional hubs in Asia, North America, and Europe, and continue collaborating with cryptocurrency firms to build Web3 infrastructure that enables them to access traditional merchants and physical services. The related business operations are expected to launch as early as January 2023. [Original link](https://www.forbes.com/sites/zinnialee/2022/10/26/hong-kong-fintech-startup-reap-raises-40-million-for-web3-payments/?sh=3450202660c6)
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