Hong Kong-based Emq gets USD 20 mln to develop cross border financial tech

Tuesday 28 July 2020 12:31 CET | News

EMQ, a Hong Kong-based startup that develops network infrastructure to make international payments faster, has raised a USD 20 million Series B led by WI Harper Group.

The funding will be used for expanding EMQ’s international business, product development, and licensing in key markets. Until recently, most transactions facilitated by EMQ were between consumers. Then in May 2020, the company launched its enterprise payment solution for companies.

The company’s CEO Max Liu told TechCrunch that EMQ will focus on scaling its operations, especially for business remittances, in China, followed by India and Japan. Its last funding was a USD 6.5 million Series A announced back in December 2017.

The startup’s technology is already used to process business payments in 80 countries and is integrated by clients, including online banks digital wallets, ecommerce, and merchant settlement providers and licensed financial institutions, into their existing networks, helping them to perform cross-border remittances.
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Keywords: cross border remittances, Hong Kong, API, International Payments, funding, remittances, online banks digital wallets, ecommerce
Categories: Banking & Fintech
Countries: Hong Kong
This article is part of category

Banking & Fintech