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FinTech company Neat raises $11mn to fuel international expansion

Neat's vision is to enable the entrepreneur economy, starting with multi-currency business accounts that can be opened online with a 15-minutes application, corporate expense cards, and the ability to send and receive money globally.

April 09, 2020 / 07:39 PM IST
Representative Image

Representative Image

Neat, a Hong Kong-based FinTech company offering modern financial solutions to SMEs and startups, has announced raising a USD11 million Series A funding round. Pacific Century Group (PCG) led the round with participation from Visa, and MassMutual Ventures Southeast Asia, among others.

With the investment, Neat plans to continue its international expansion to support businesses that trade across borders.

Neat's vision is to enable the entrepreneur economy, starting with multi-currency business accounts that can be opened online with a 15-minutes application, corporate expense cards, and the ability to send and receive money globally.

Additionally, Neat and Visa have entered into a strategic partnership, and in the next few months Neat will begin issuing Visa credit cards aimed at cross-border SMEs.

"Our goal is to offer a truly global solution for businesses that trade across borders, regardless of their size or how long they've been in the market. Corporate credit cards, for example, can be incredibly difficult for young businesses to get," said David Rosa, CEO and Co-Founder of Neat. "We're excited to partner with Visa, one of the leaders in digital payments, to offer a product that hasn't always been accessible to young SMEs."

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In the long run, Neat aims to make international trade nearly frictionless by not only offering a way for customers to move money, but also making use of a wide ecosystem of tools that automates their business processes (payroll, accounting, logistics, etc.), to ultimately enable anyone to run an international business with ease.

With a global count of 500M+ startups and other SMEs, funds from this round will be used to further Neat's international expansion.
Moneycontrol News
first published: Apr 9, 2020 07:39 pm

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