Singapore-based merchant operating system Qashier has closed a US$6.125 million Series A+ round combining equity and debt, led by Cocoon Capital, IFP Securities and BlackSoil Global, with participation from strategic angel investors.

The funding will go toward regional expansion and product development as Qashier scales its unified commerce platform across Southeast Asia.

Profitable growth on lean capital

The round caps a year of steady operating progress for the company. Qashier now processes US$1 billion in annualised payment volume for more than 20,000 merchants across Singapore, Malaysia, Thailand and the Philippines, and has been profitable every month since December 2025. Annualised recurring revenue grew 61% over the year, and the company secured its Major Payment Institution licence in Singapore in February 2025 – milestones reached on under US$20 million raised to date.

Tackling SEA’s fragmented merchant tooling

Southeast Asia is home to more than 70 million SMEs and a digital payments market exceeding US$1 trillion, yet many merchants still run disconnected systems for point-of-sale, payment acceptance, inventory, customer engagement and financing. Qashier consolidates these functions into a single platform spanning more than 50 integrated modules and over 20 regional payment methods, including cards, QR, e-wallets and buy-now-pay-later. The company owns its end-to-end payments stack – KYC, processing, payouts and cross-border settlement – which it says gives merchants faster onboarding, more competitive pricing and generates the transaction data that feeds the rest of the platform.

“We are building the operating system for Southeast Asia’s SME economy – and we are building it profitably,” said Christopher Choo, Co-Founder and CEO of Qashier. “Merchants should not have to stitch together five vendors to run one business.”

Lending arm built on platform data

That data advantage underpins QashierLoans, a revenue-based lending product launched in June 2025. Underwritten on proprietary platform data and repaid automatically from daily sales, QashierLoans has disbursed more than US$10 million to over 100 SMEs since launch, extending Qashier’s positioning from commerce software provider to financial operating partner.

With the new capital, Qashier plans to expand omnichannel payments, broaden embedded financial services and add AI-enabled insights and workflow automation. It is also building out support for larger, multi-outlet businesses in food and beverage and beauty and wellness, where operators need consolidated reporting across locations. The company is preparing for a Series B round, targeting further milestones in recurring revenue, payment licensing and loan disbursements.