XTransfer, China's leading one-stop cross-border financial and risk management services provider, raised $138 million in a Series D round of funding.
The latest round was led by D1 Capital Partners, with existing shareholders also putting in money. Lighthouse Capital was the sole financial advisor for this round.
XTransfer plans to use the capital to upgrade its products and services, continue investing in big data and artificial intelligence (AI), boost its AML risk management, and attract more talent to add more overseas markets, the release stated.
Company: Xtransfer Inc.
Round: Series D
Funding Month: September 2021
Lead Investors: D1 Capital Partners
Company Website: https://www.xtransfer.cn/?lang=en
Software Category: Financial and Risk services
About the Company: XTransfer provides SMEs with cross-border financial services on par with those available to multinational corporations. This is done without any letup in meeting banks' AML and compliance requirements. Such services include a free, swift opening of collection accounts, currency exchange, and FX settlement, supplying smaller B2B-focused exporters with safe, stable, and cost-efficient services. Booming cross-border e-commerce has had a far-reaching impact on business-to-business (B2B) trade. Worldwide, an increasing volume of goods are transacted online and the adoption of e-commerce is on the upswing. Headquartered in Shanghai, XTransfer has offices in locations including Hong Kong, the United Kingdom, Canada, the United States, Japan, Australia, and Singapore.