A Chinese startup named XTransfer, which offers cross-border services for SMEs. A review of the website indicates payments and collections services for Chinese companies in various foreign currencies.
The latest round was led by Telstra Ventures, together with MindWorks Ventures and existing investors. Bill Deng, founder and chief executive of XTransfer said the funds will be used to further increase its global financial network, support its data capabilities, improve its anti-money laundering (AML) and risk control capacity and deliver improved services to customers. This funding round will also fuel their organizational upgrade to attract more high-caliber talents globally.