INSUBCONTINENT EXCLUSIVE:
Neat, a Hong Kong-based fintech startup, announced today that it has raised a $11 million Series A to help small businesses do cross-border
The round was led by Pacific Century Group, with participation from Visa and MassMutual Ventures Southeast Asia, and returning investors
Dymon Asia Ventures, Linear Capital and Sagamore Investments.Neat also announced a strategic partnership with Visa, which means that in the
its seed round announced at the end of 2018.Like San Francisco-based Brex, which achieved a $2.6 billion valuation last year, Neat focuses
on giving startups and small businesses a more efficient, online alternative to traditional banking.Its services allow them to open business
accounts for multiple currencies online, send and receive payments from different countries and apply for corporate credit cards
Last year it opened a Shenzhen office to serve Chinese export businesses, as well as an office in London for Western European companies that
trade in China.Neat co-founder and CEO David Rosa told A Technology News Room that businesses are still looking to digitize more of their
operations despite the worldwide impact of the COVID-19 pandemic
credit cards can be difficult for startups and SMEs to get because they typically need about three years of audited financials to qualify
even for low spending limits, Rosa said
Employees often cannot get a corporate card because their managers do not have the tools to control their spending limits, making
reimbursement more difficult
In the future, Neat will launch tools for automated payroll, accounting and logistics.In a statement, MassMutual Ventures managing director
