Baofoo.com
No.99 Juli Road, Pudong New Area, Shanghai, 201203, China
Overview
Incorporated in 2010, Baofu Internet Technology (Shanghai) Co., Ltd was awarded the Payment Licence by People’s Bank of China and approved as the pilot enterprise to do Cross-border Foreign Exchange Payment Business by the China State Administration of Foreign Exchange in 2011. In July, 2015 Baofu received a strategic investment of RMB 250 million from Eastmoney. In 2016, BaoFu successfully renewed its internet payment licence. In 2017, BaoFu was approved by the Foreign Exchange administration for Cross-border foreign exchange business. As a high-tech company that provides comprehensive payment services, Baofu focuses on e-payments and e-commerce, and takes pride in its leading innovativeness and R&D capabilities. Baofu’s Cross-border Payments is committed to helping merchants do cross-border settlements between RMB and foreign currencies. Baofu has been working with multiple banks on cross-border payments. The supported currencies are: USD, EUR, JPY, GBP, CAD, AUD, SGD, HKD ect. Baofu has also seamlessly integrated with multiple customs: such as Shanghai Customs, Guangzhou Customs, Hangzhou Customs, Ningbo Customs and Zhengzhou Customs. At the same time, Baofu provides merchants with 24/7 customer service. These services make cross-border settlements more efficient, convenient and secure.
- Total investments
- 1
- Lead investments
- 0
- Investments · 12mo
- 0
- Active investors
- 0
Sector focus
- Cryptocurrency
- E-Commerce
- FinTech
- Internet
- Payments
Investment portfolio
- Wyre
Participated · Series A · Dec 2016
Wyre provides APIs and infrastructure that give builders easy and secure access to global financial rails and crypto on/off ramps. The company allows Anchors to use Wyre’s APIs to access new payment methods and geographic converges, unlocking payment flows that were previously not possible due to high network costs with other blockchains. Wyre offers a Savings API that lets partners spin up interest-bearing accounts for their end-users. The company is starting by enabling USDC on/off ramps in existing fiat pairs (USD, GBP, CAD, AUD, EUR) and plans to release more products in the future. Wyre received a $5M strategic investment from the Stellar Development Foundation. Denelle Dixon, Chief Executive Officer and Executive Director of the Stellar Development Foundation, has joined Wyre’s board to support the partnership and integration. Wyre operates a cross-border payments platform that enables businesses to move money from country to country at competitive foreign exchange rates. The platform launched in the United States and China and processes more than $2M in international payments per day. Wyre was founded in 2016 by CEO Michael Dunworth. The company plans to use new funding to expand its platform into Europe and Latin America. The product leverages blockchain to facilitate international transfers for business customers. The Series A supports rapid geographic expansion and scaling of transaction volume.
Team
No current team members are available.