Hong Kong-based digital banking provider Neat (FintechDB Profile) today announced a funding of US3M led by Linear Capital, a China-based venture capital firm. This brings the total funding raised by Neat to US5M since it started its funding round in July of this year. Other investors include Dymon Asia Ventures, Portage3 Ventures and Sagamore Investments.
Neat is a FinTech company that delivers a fully digital alternative to traditional bank services to individuals, startups and SMEs. From setting up bank accounts to payroll and expense management, Neat offers a faster and more flexible solution to seamlessly establish businesses in the global market. Neat has recently introduced international payments for businesses at lower rates than traditional banks.
Neat will use the new capital to push for new products and to grow the team, leveraging on Linear Capital’s expertise in data science and wide access into the China market. “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.”