Neat raises EUR 11 mln Series A

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.

This brings Neat’s total funding to EUR 14 million, including its seed round announced at the end of 2018. According to TechCrucnh, Neat’s new funding will be used for expansion, with a focus on Southeast Asian customers that do trade with European companies. In 2019, 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 focuses on giving startups and small businesses an 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.

The company also announced a partnership with Visa, which means that in the next few months Neat will start issuing Visa credit cards to SMEs and startups.