Neat, a digital bank based in Hong Kong, announced on Wednesday a $4 million extension to its $11 million Series A investment round, which originally closed in April 2020. MassMutual Ventures, Pacific Century Group, Linear Capital, and Robby Hilkowitz as well as new investor Vectr Fintech participated in the extension.
Founded in 2015, Neat stated it is built for today’s global economy, where borders are disappearing and it’s easier than ever to start a business. The company notably believes in making international business a reality for entrepreneurs around the world.
“As entrepreneurs, our businesses are always in motion: starting from an idea, to making a first sale, to expanding globally. We need a financial experience that evolves with us – an experience that’s still stable and secure, but adaptive too. Today, Neat is a modern alternative to a bank, designed to support you wherever you go. Tomorrow, we’re a platform for doing business: enabling the Entrepreneur Economy.”
Neat further explained that while global travel has come to a standstill due to COVID-19, cross-border trade has not, and SMEs continue to look for solutions that can support them in trading globally.
“With our online company incorporation package and multi-currency money collection and payment service, Neat is perfectly positioned to support international SMEs during a time where physical travel has been challenging.”
David Rosa, CEO of Neat, further commented:
“Some of the world’s most successful companies were born during or just after the financial crisis of 2008, think of WhatsApp and Uber. The majority of businesses founded during COVID-19 will have a digital-first mindset, which means they will have an opportunity to start trading globally from day one. We’re excited to be supporting this new wave of international entrepreneurs.”
Neat further noted that with the new funding, it will continue building the features the platform has committed to, while also being able to further improve our customer support experience and fuel our growth.