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Hong Kong-Headquartered Neat Extends Its Series A Funding By $4 Mn

Wednesday, August 19, 2020


(Entrepreneur by Debarghya Sil) - Hong Kong-headquartered Neat, a fintech company on Wednesday announced that it has raised $4 million, which is an extension to their $11 million Series A round closed four months ago. Existing investors MassMutual Ventures, Pacific Century Group,  were among others who participated in the Series A Extension. New investor - Vectr Fintech too participated in the extension.

Founded in 2015, Neat, which provides banking alternative services offer online company incorporation and multi-currency wallets to cross border small and medium-sized enterprises (SMEs). It claims that its services are need of the hour for today’s entrepreneur to facilitate their businesses needs.

The company claimed that though world travel has come to a pause, cross border trade has not. It said that new company incorporations in the UK in Q2 has increased to 175,000 compared to the corresponding period of the previous year. The company in a statement said that in Hong Kong more than 27,000 companies were incorporated in Q2 of 2020 which would have earlier approached high street banking providers, but are going for digital alternatives.

 

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