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XTransfer gets funding to step up investment in AML and risk management

Friday 23 October 2020 11:20 CET | News

XTransfer, a Chinese cross-border financial services and risk management company, has completed a Series C1 round of financing.

The latest round was led by Telstra Ventures, together with MindWorks Ventures, and existing investors. The funds will be used to further expand the fintechs global financial network, strengthen its data capabilities, improve its anti-money laundering (AML) and risk control capacity, and deliver better services to customers.

Founded in May 2017, XTransfer is headquartered in Shanghai and has offices in Hong Kong, the United Kingdom, Canada, the United States, Japan, Australia, and Singapore. 

Through collaboration with international banks and financial institutions, it has established a multi-currency unified financial settlement network targeting small and medium-sized enterprises. XTransfer services include local collection and payment, FX exchange, reporting of income in countries with non-convertible currencies, and wealth management.


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Keywords: XTransfer, China, cross border payments, funding, risk management, AML, trade finance, data
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: China
This article is part of category

Banking & Fintech






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