Categories: Investments

Hong Kong's SMB FinTech Neat Nets $11M

Hong Kong-based finance startup Neat has closed a Series A funding round and come away with $11 million, according to a press release.

Pacific Century Group (PCG) led the round, while Visa and MassMutual Ventures Southeast Asia were among the other investors.

The company's goal is to offer smart financial tools to small- to medium-sized businesses (SMBs), including multi-currency accounts that customers can open quickly, corporate expense cards, and the option to send and receive money from anywhere in the world.

Neat has also partnered with Visa, the release stated, and will begin issuing Visa cards to cross-border SMBs.

But Neat also focuses on other applications to enhance the uses of payroll, accounting, logistics and other kinds of software. The ultimate goal for Neat is to allow customers to run a business easily and without stress, the release stated.

The money from this funding round will enable Neat to further international expansion. The press release stated the company has opened an office in London, intending to begin operating in western Europe and help European businesspeople trading with China. The company opened an office in Shenzhen last year, which focuses on Chinese exporters.

The company plans to invest more in customer support, expand its customer base in Southeast Asia, and add more regulatory licenses around the world.

David Rosa, CEO and co-founder of Neat, said he intends to create a "truly global solution" for those looking to trade around the world. He said he hopes to be able to service clients of all sizes, and the partnership with Visa will be a boost for the company.

In other Visa-related news, the coronavirus has taken its toll on the credit card giant, which said it expects lower revenues going forward due to declining rates of travel and spending as the virus continues to affect modern life.

Get our hottest stories delivered to your inbox.

Sign up for the Newsletter to get updates on top stories and viral hits.



The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.