Tuotuo Digital, a Beijing, China-based cross-border fintech and payment service provider, completed a new round financing of tens of millions of CNY.
The round was led by Dewu Capital.
The company intends to use the funds to accelerate the building of its capacity on cross-border B2B payment risk control and develop its underlying technology to further serve the payment and financial technology needs of cross-border transactions of micro, small and medium-sized enterprises (MSMEs).
Founded in 2020, Tuotuo Digital provides cross-border B2B e-commerce buyers, sellers, marketplaces and financial institutions in more than 200 countries and regions with a comprehensive set of services, including payment, risk control, fintech and insurtech services. It has served more than 50,000 MSMEs, facilitating billions of transactions by now and has teamed up with various institutions including CITIBANK, Barclays, UnionPay, ApplyPay.