Hong Kong-based fintech startup Neat has announced raising a $2-million funding round from Singapore-based Dymon Asia Ventures and Canada’s Portag3 Ventures. Neat is a mobile current account that claims to offer an alternative to the traditional banking model. Users get a dedicated Hong Kong bank account number, the ability to receive and send payments globally and unlimited corporate MasterCards for online and offline spending and ATM withdrawals.
In its announcement on Tuesday, the startup said it will use the fresh capital to enhance customer onboarding, launch new product features and for team expansion. “Neat is committed to meeting the financial needs of an increasingly mobile and digital workforce. Thanks to our investment partners we can continue to address issues faced early-stage and non-traditional businesses when they deal with traditional banks,” said Neat co-founder and CEO David Rosa. Neat also launched its ‘Neat Business’ product, an alternative current count to a traditional corporate one, for entrepreneurs, startups, and corporates.
The startup claims to work with customers across 100 countries. “We believe that Neat understands better than any team we have seen that everything in banking revolves around the customer. As a result, Neat offers a customer experience that is frictionless, digital, and delightful.
We’re thrilled to support Neat on its journey to becoming an essential banking partner for startups and small businesses all over the world,” said Dymon Asia Ventures partner Chris Kaptein. Dymon Asia Ventures, the venture arm of private equity firm Dymon Asia, focuses on early-stage investments in tech companies. The funding in Neat marks the first Asian investment made Montreal-based Portag3 Ventures, also an early-stage investor.