Neat is a Hong Kong-based fintech that offers online business accounts in multiple currencies, cross-border payment capabilities, and corporate credit cards for startups and small businesses. The company enables customers to open accounts online, send and receive payments from different countries, and apply for corporate cards, and it already offers a Neat Mastercard. Neat has a strategic partnership with Visa and will begin issuing Visa credit cards to SMEs and startups in the coming months. The startup plans to launch tools for automated payroll, accounting and logistics in the future. It has expanded geographically with a Shenzhen office to serve Chinese export businesses and a London office for Western European companies that trade in China. The recent $11M Series A will be used for expansion focused on Southeast Asian customers that trade with European companies, bringing total funding to $16.5M. Neat offers quick access to prepaid Mastercard-based cards and basic banking services for startups and SMEs, charging around $7.50 per month and variable fees on incoming, outgoing and international payments. The company also provides a consumer option similar to Monzo, Starling and Revolut, but focuses primarily on business users. Neat claims customers in 100 countries and has introduced international payments; it is working on multi-currency solutions and integrations with third-party services such as accountancy tools. The business is earlier stage and has previously raised a $2 million seed round earlier this year. Neat pulled in $3 million in fresh funding to expand its product and reach. With the new backing it aims to target Chinese businesses seeking banking options in Hong Kong while competing with established incumbents. Neat is a challenger bank focused on business banking for early-stage startups and SMEs, offering business accounts and debit-based Neat Mastercards. The service enables companies that cannot get credit cards to pay bills, flights, hotels and subscriptions without using personal cards, and supports payroll, invoicing, receipt of funds and employee expense cards. More advanced features are planned, including detailed company reporting, automated accounts, multi-currency solutions and accountancy software integrations to widen global appeal. Neat began with a consumer service in Hong Kong but places heavy emphasis on its business product and global expansion. The company was founded in 2015 by David Rosa and Igor Wos and is based in Hong Kong, with customers in over 100 countries. Financially, Neat recently raised $2 million to develop its technology and increase marketing, with participation from Dymon Asia and Portag3 Ventures.

Total raised

$16M

Funding rounds

3

Latest round

Series A

Latest activity

Apr 2020