XTransfer provides SMEs with cross-border financial services—including free, swift opening of collection accounts, currency exchange, and FX settlement—designed to meet banks' AML and compliance requirements. The company aims to offer services on par with those available to multinational corporations, targeting smaller B2B-focused exporters. It has expanded internationally with offices in Hong Kong, the United Kingdom, Canada, the United States, Japan, Australia, and Singapore. XTransfer plans to use new capital to upgrade products and services, continue investing in big data and artificial intelligence, and boost its AML risk management. Management also intends to attract more talent and expand into additional overseas markets. No operating metrics (revenue/users) were disclosed in the articles. XTransfer operates a global financial network providing cross-border and local collection, payments, foreign exchange, lending and treasury management solutions for Chinese SMEs engaged in foreign trade. Founded in May 2017 by CEO Bill Deng, the company has established branches and relevant licenses in Hong Kong, the UK, Canada, the United States, Japan and Australia. XTransfer completed a $15M Series B-1 financing led by the eWTP Fund with participation from China Merchants Venture Capital, 01VC, Yunqi Partners and Gaorong Capital. The company intends to use the proceeds to expand its global financial network, pursue licensing in multiple countries, upgrade its team and technology, and increase marketing. The product set is focused on enabling cross-border commercial flows and treasury management for China-based exporters and importers. XTransfer is a cross-border financial technology company that provides offshore financing solutions and services including global collection, payments, foreign exchange and wealth management for China’s small and medium importers and exporters. Founded in May 2017 and headquartered in Shanghai, it has offices in Hong Kong, the U.K., Canada, Japan and the U.S. The company offers virtual sub-accounts launched with DBS Hong Kong and a product called "XForward" to help buyers lock exchange rates and quote prices in local currencies. XTransfer serves more than 10,000 customers and recently obtained a payment license in the U.K. It is building an open platform for international trade financial data to enable grassroots financial infrastructure such as microfinance for financial institutions and plans to expand its services to markets including the Philippines, South Korea and Taiwan. Management comprises five founders from Ant Financial and Alibaba, and the company uses technology for risk control and anti-money-laundering verification.

Total raised

$163M

Funding rounds

3

Latest round

Series D

Latest activity

Sep 2021