EMQ, a Hong Kong-based financial settlement network, raised $20m in Series B funding.
The round wass led by WI Harper Group, with participation from new and existing investors including Abu Dhabi Capital, AppWorks, DG Ventures, Hard Yaka, Intudo Ventures, January Capital, Quest Venture Partners, SparkLabs Taipei, Vectr Fintech Partners, and VS Partners.
The company will use the funds to further accelerate its international growth, product development and licensing activities across Asia, Europe and the Americas.
Led by Max Liu, co-founder and CEO, EMQ operates a global financial settlement network that provides a cross-border settlement solution for businesses around the world, while adhering to complex regulations and compliance standards in different markets. The company’s network infrastructure has been built to settle any cross-border movement of capital and can be deployed across multiple vertical industries for a broad range of services, including e-commerce, merchant settlement, procurement, remittance, payroll, etc. Currently, EMQ ‘s network spans across Asia Pacific, Africa, Europe and North America, with access to over 80 key global markets and millions of digital endpoints. The company is currently licensed in Hong Kong, Singapore, Indonesia and registered as a Money Service Business in Canada. EMQ was also accepted into Taiwan’s Regulatory Sandbox by the Financial Supervisory Commission in Taiwan.