Citcon USA

Founded in 2015 and headquartered in Santa Clara, US, Citcon USA LLC operates as a payments gateway enabling businesses to process diverse payment methods. The company was co-founded by Chuck Huang and Wei Jiang, who have experience in the payment solutions sector.00 mn.Citcon is an all-in-one payments gateway that specializes in enabling businesses to accept a wide range of payment methods, including over 100 eWallets, local payment schemes, and traditional credit cards. Their core product is designed to streamline the payment process through a single integration, which facilitates both in-store and online transactions. The platform effectively addresses the needs of merchants by providing the flexibility to cater to various consumer preferences, thereby enhancing customer experience and promoting business growth. Citcon's solutions are utilized by an extensive client base, including retailers and service providers across various sectors, aimed at facilitating seamless transactions for both domestic and international customers.Citcon's revenue is primarily derived from transaction fees associated with the payment processing services it provides to merchants. The company operates on a transactional structure where businesses utilizing its platform pay fees for each transaction processed. This model allows for a straightforward flow of revenue as each sale completed through the Citcon system results in a fee for the company. Specific pricing plans associated with flagship services, such as the integration of Alipay and other eWallets, are structured to maximize value for merchants while ensuring competitive processing fees. The company is working on launching new features to improve the payment experience, with potential release dates aimed at the latter half of 2023. Citcon is also targeting expansion into additional Asian markets and Europe by the end of 2024, seeking to broaden its customer base and increase transaction volumes.

1. Series C

   Oct 22, 2021

   Amount

   $30M

   Investors

   Locked