Neat, a Hong Kong-based FinTech company offering modern financial solutions to SMEs and startups, raised $ 11m in Series A funding.
The round was led by Pacific Century Group (PCG) with participation from Visa and MassMutual Ventures Southeast Asia, among others.
The company intends to use the funds to accelerate its international expansion to support companies that trade across borders, to develop its customer acquisition channels throughout Southeast Asia and search for relevant regulatory licenses worldwide to drive the growth of its business.
Led by On David Rosa, CEO, and Igor Wos, CTO, Neat provides multi-currency business accounts that can be opened online with a 15-minute application process, corporate expense cards, and the ability to send and receive money globally. In addition, Neat and Visa have established a strategic collaboration and in the coming months the company will begin to issue Visa credit cards for cross-border SMEs.
In the long term, Neat aims to make international trade flow virtually unhindered by offering customers a way to move money and by using a broad ecosystem of tools that automate their business processes (payroll, accounting, logistics, etc.), so that, ultimately, anyone can run an international business with ease.
After opening an office in Shenzhen in 2019 for Chinese exporters, the company has just opened a new office in London and is preparing to start local operations in Western Europe to also serve European entrepreneurs who trade with China.