Global financial settlement network EMQ has bagged $20m in Series B preferred shares, which will help it with licensing activities in Asia, Europe and the Americas.
The investment was led by WI Harper Group, with contributions also coming from Abu Dhabi Capital, AppWorks, DG Ventures, Hard Yaka, Intudo Ventures, January Capital, Quest Venture Partners, SparkLabs Taipei, Vectr Fintech Partners, and VS Partners.
Capital from the round will be used to accelerate the international growth of the platform, bolster product development and increase licensing activities across Asia, Europe and the Americas.
EMQ aims to create a global settlement network that lets people send money anywhere in the world. Its infrastructure is flexible and scalable, removing unnecessary intermediaries and directly integrating to all end-points to enable seamless, real-time and cost-effective cross-border payments.
The network spans Asia Pacific, Africa, Europe and North America, reaching more than 80 key markets.
Its services are used for a variety of services including e-commerce, merchant settlement, procurement, remittance, payroll and more.
WI Harper Group partner Edward Liu said, ?As digital transformation intensifies globally, enterprises today are increasingly international in scale and they will require a network infrastructure like EMQ with greater speed, more certainty, increased flexibility and transparency, to expand their business in Asia and beyond. We are excited to partner with the EMQ team to expand its market-leading position in cross-border business payments globally.p>
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