+33%

est. 2Y upside i

FinTechSeries A

Payments infrastructure for businesses scaling in APAC

Rank

#2365

Sector

Fintech

Est. Liquidity

~5Y

Data Quality

Data: Medium

HitPay is a speculative but non-trivial equity bet: the $75.75M 2022 valuation implies only ~12x on $6.2M ARR, which may look cheap if the $25B annualized TPV headline accelerates revenue recognition.

Last updated: May 14, 2026

Bull (10%)+280%

HitPay's $25B annualized TPV (April 2026) enables a Series B at $280–350M valuation (35–45x a ~$9M forward ARR), catalyzed by the Remittance API and tourist QR products expanding into higher-margin cross-border flows. A strategic acquisition by a regional superapp or global PSP at ~$300M would deliver roughly +296% upside at the $75.75M entry valuation.

Base (50%)+70%

HitPay raises a Series B within 18–24 months at ~$130–150M (15–18x ~$9M estimated 2026 ARR), roughly doubling the entry valuation but with 20–25% dilution reducing net employee equity benefit. Paper gains are almost certainly unrealized within a 2-year window, with actual liquidity 4–6 years out.

Bear (40%)-75%

Stripe's APAC push and Xendit/Airwallex pricing aggression compress HitPay's take rate and stall growth below 15% YoY, making a Series B raise untenable above the 2022 terms. A flat or down round at $25–45M—or a distressed sale—leaves common stockholders recovering less than 25 cents on the dollar against the $75.75M entry valuation.

Est. time to liquidity~5.0 years

Preference Stack Risk

high

Funding Intensity

21%

$15.9M in total liquidation preferences on a $75.75M valuation represents ~21% of the cap structure; any exit below $15.9M returns zero to common stockholders.

Dilution Risk

moderate

As an unprofitable Series A company with no near-term path to self-funding, HitPay will likely require at least one additional round before a liquidity event, diluting current common holders by an estimated 15–25%.

Secondary Liquidity

none

No known secondary market activity exists for HitPay equity; shares are illiquid private stock in a Singapore-domiciled company with no listed ADR or secondary platform presence.

View all 2 open roles at HitPay →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on HitPay's data — designed to show you've done your homework.

  • 1

    “The $25B annualized TPV headline is striking—what is HitPay's blended take rate today and how has it trended over the past 24 months as volume scaled?”

  • 2

    “How does the Remittance API change unit economics relative to the core domestic transaction-fee model, and what share of 2026 revenue is cross-border?”

  • 3

    “Given the Series A closed in May 2022 with Tiger Global leading, what is the current runway and fundraising timeline, and has the board aligned on Series B terms above the $75.75M valuation?”

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Valuation Sentiment

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.