Hong Kong Digital Payment Platform Statrys Lands $5M

Hong Kong-based digital payment platform Statrys has recently landed $5 million in funding through a closed-door funding deal with an angel investor with the expectation that the firm will get market share in the expanding remittance and digital payment arena, according to an announcement.

“This new financing will help us to accelerate the development of the company both in terms of products, with the addition of local currency accounts, payment card, integration with accounting software, and geographically, as we will target new markets in South-East Asia,” Statrys Founder and CEO Bertrand Theaud said in the announcement.

Statrys is a payment offering is targeted to small and medium-sized businesses (SMBs), entrepreneurs and upstarts that need flexible banking and developed foreign exchange offerings that can let them expand around the world.

The new funding round is part of the company’s international expansion roadmap, beginning with a large effort in Asia to help entrepreneurs and SMBs with business accounts, foreign exchange requirements and other payment offerings.

The company’s foreign exchange trading features provide payments and trades in 11 distinct currencies with intentions for additional currencies to come at a later time. Furthermore, the new funding round is meant to also grow the firm’s presence or capacity to serve customers in other nations like Indonesia, Thailand and Singapore.

In April, Hong Kong-based finance upstart Neat closed a Series A funding round and came away with $11 million. Pacific Century Group (PCG) headed up the round, while MassMutual Ventures Southeast Asia and Visa were among the other investors.

Neat’s goal is to provide smart finance tools to SMBs, with the inclusion of multi-currency accounts.

Also in April, Hong Kong-based Oriente has notched $50 million in its continuing Series B round per news at the time. The firm offers financial resources to clients such as online credit, cash loans, point-of-sale (POS) lending offerings, offline-to-online consumer finance and working capital financing for SMBs.