Neat which is a Hong Kong-based startup which helps the SME’s and startups in providing access to credit cards and several banking services have now secured an amount of $3 Million in the fresh funding round.
This new round is led by the VC Linear Capital in collaboration with the Hong Kong Sagamore investment in participation with the existing investors that is Dymon Asia Ventures and Portag3 Ventures. Previously, the startup raises @2 Million in the seed funding earlier this year.
The company provides quick access to prepaid Mastercard based cards and some of the essential banking services. Cards are charged at $8 per month, with the varying in the prices of incoming, international payments and outgoing. There is also a consumer option which is available, just like the European startups Monzo, Revolut and Starling but Neat is much more focused towards the business users.
Neat as of now is in the earlier stage of development and is serving the Asian Market via Hong Kong. The CEO David Rosa said in a statement that “a large portion” of its customers were either based in Hong Kong or associated with the market, but Neat does offer services globally with a focus on Asia.” Apart from just that, the company has also introduced international payments options which will allow the users to pay out in the overseas market without incurring any of the other fees, while the company is also working on the other multi-currency solutions and integrations with the third party services which include the accountancy and more.
The company has already claimed that they have customers in more than 100 countries but with the Linear Capital backing. It is also aiming to enter into the Chinese businesses which are looking for banking solutions in Hong Kong.
“We are excited to make our Neat Business product available to Chinese customers who are looking for a Hong Kong-based solution to help realize their global ambition,” said David Rosa, CEO, and Co-Founder of Neat. “Today we are seeing more enterprises – new and established – from China venturing beyond their domestic market, and Neat is perfectly positioned to offer this growing group of businesses financial access and the ability to expand their footprint globally.”
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