XTransfer, a Shangai-based provider of cross-border financial services for China based foreign trade enterprises, completed a $15m Series B-1 financing.
The round was led by the eWTP Fund with participation from China Merchants Venture Capital, 01VC, Yunqi Partners, and Gaorong Capital.
The company intends to use the funds to further expand its global financial network, applications for licensing in various countries, team and technology upgrades, and marketing.
Founded in May 2017 by Bill Deng, CEO, XTransfer operates a global financial network able to provide global financial service solutions for Chinese SMEs, such as cross-border and local collection, payment, foreign exchange, lending, and other treasury management services.
The company has branches and relevant licenses in Hong Kong, the UK, Canada, the United States, Japan, and Australia.