Curlec
Category: AI in Fintech
Full-stack payment gateway and fintech platform providing comprehensive payment solutions for Malaysian businesses Curlec was founded in 2018. The company is led by Kevin Lee. Based in Kuala Lumpur, Malaysia. Team size: 58. Total funding raised: $20 million. Latest round: Acquisition by Razorpay (2022). Key investors include Razorpay, 500 Global, Captii Ventures.
- Founded
- 2018
- Headquarters
- Kuala Lumpur, Malaysia
- Team size
- 58
- Total funding
- $20 million
Value proposition
Simplifies payment collection, automates payouts, manages cash flow, and provides seamless integration with local payment infrastructure while leveraging Razorpay's global technology stack
Products and solutions
Payment Gateway, Recurring Payment Solutions, Payment Links, Payment Pages, Payment Buttons, Subscription Management, Invoicing, Payouts, Buy Now Pay Later, Direct Debit, E-wallet Integration, Card Payments
Unique value
Combines Razorpay's proven Indian payment technology with deep local Malaysian market knowledge, offering comprehensive payment solutions tailored for Southeast Asian businesses with strong focus on recurring payments and subscription management
Target customer
Businesses of all sizes in Malaysia requiring digital payment solutions, with focus on SMEs and enterprises in e-commerce, insurance, lending, and telecommunications sectors
Industries served
E-commerce, Insurance, Fintech Lending, Telecommunications, Retail, SaaS, Healthcare, Education
Technology advantage
Integration with Malaysia's national payment network PayNet, DuitNow QR code payments, FPX online banking, TNG Digital e-wallet, and Razorpay's global payment ecosystem enabling cross-border capabilities
How they differentiate
Curlec differentiates through its focus on Malaysia and Southeast Asia, deep integration with local payment methods (DuitNow, FPX, TNG Digital), strong recurring payment capabilities, comprehensive subscription management, and backing from Razorpay's proven technology platform
Main competitors
Stripe, PayPal, Adyen, GoCardless, iPay88, MOLPay, Razer Merchant Services
Key partnerships
Razorpay (parent company), PayNet Malaysia (national payment network), TNG Digital (e-wallet partnership), NPCI International (UPI payments in Malaysia), Visa (installment payment solutions), ShopBack (reward-driven checkout), Seedflex (PAYS Advance solution)
Notable customers
Tune Protect, CTOS, Courts, Mary Kay, National Kidney Foundation, AXA Malaysia, Funding Societies, Axiata Digital
Major milestones
Acquired by Razorpay (February 2022), Partnership with TNG Digital (May 2024), PayNet membership (2024), Full-stack payment gateway launch (July 2023), Kevin Lee appointed as CEO (April 2025), UPI payments integration with NPCI International (October 2025), Visa installment payment partnership (August 2025)
Growth metrics
Serving over 5,000 businesses with target of RM10 billion ($2.1 billion) annualized gross transaction value by 2025, processing 10,000 transactions per second capacity, over 700+ enterprise customers including Tune Protect, CTOS, Courts, Mary Kay, National Kidney Foundation
Market positioning
Positioned as a leading full-stack payment gateway for Malaysian businesses, competing by offering localized solutions with global technology standards, targeting both SMEs and enterprises with scalable payment infrastructure
Geographic focus
Primarily Malaysia with expansion plans across Southeast Asia, leveraging Malaysia as a strategic hub for broader regional expansion under Razorpay's ownership
Patents and IP
No public patents or IP filings specifically mentioned in available sources
About Kevin Lee
Over 18 years of experience in payments and fintech industry, previously served as CEO of GHL Systems Malaysia (now NTT Data Payment Services) for nearly 16 years from 2009 to 2025, with extensive experience in product strategy, sales, marketing, and international business development
Official website: https://curlec.com