Investors including MassMutual Ventures, insurance provider Massachusetts Mutual Life’s venture capital arm, added $4m to China-based cross-border financial services provider Neat’s series A round yesterday, increasing it to $15m.
Pacific Century Group, Linear Capital and angel investor Robby Hilkowitz – all of which joined MassMutual Ventures in the round’s $11m first tranche in April this year – joined new investor Vectr Fintech Partners in the extension.
Neat has built a multi-currency digital wallet aimed at businesses that can be linked to corporate expense accounts and which incorporates international remittance.
The first close also featured payment services firm Visa, Dymon Asia Ventures and Sagamore Investments. The company had raised $2m from Portag3 Ventures and Dymon Asia Ventures in May 2015 before both returned for a $3m round led by Linear Capital three months later.
Referencing the current Covid-19 pandemic, Neat chief executive David Rosa said: “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 are excited to be supporting this new wave of international entrepreneurs.”
Image courtesy of Neat Limited.
