XTransfer, China’s Self-Styled PayPal, Wraps Up Fundraiser, Led by Lavender Hill Capital
Tang Shihua
DATE:  Jan 27 2021
/ SOURCE:  Yicai
XTransfer, China’s Self-Styled PayPal, Wraps Up Fundraiser, Led by Lavender Hill Capital XTransfer, China’s Self-Styled PayPal, Wraps Up Fundraiser, Led by Lavender Hill Capital

(Yicai Global) Jan. 27 -- XTransfer, a Chinese startup that offers cross-border payment services for small exporters, has concluded its s Series C2 round of funding, led by Hong Kong-based Lavender Hill Capital Partners.

The company's existing shareholders also participated in this round, the Shanghai-based firm said in a press release today, without disclosing the scale of investment.

Last October, the fintech firm finished its Series C1 round, led by Australian venture capital firm Telstra Ventures. MindWorks Ventures, as well as existing financial backers, joined the round.

Founded in 2017 by six ex-Ant Group alumni, XTransfer has carved its niche out of Chinese small and medium-sized exporters' need for convenient overseas payments. It serves more than 100,000 clients.

XTransfer plans to use the latest funding proceeds to continue its efforts in building a Big Data and artificial intelligence-driven risk management platform, as well as to hire more talents, it added.

The company sees itself as "China's PayPal" for cross-border merchants as it aims to establish the infrastructure for overseas business-to-business e-commerce, said founder and Chief Executive Bill Deng.

Editor: Emmi Laine
 

 

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Keywords:   Financing,Fintech,Small Enterprise,Cross-Border Financing,Risk Management,AI,Big Data,XTransfer