Chinese cross-border fintech firm secures $138m in series D money

China-based XTransfer, a cross-border financial and risk management services provider, has banked US$138 million to fuel its global expansion.

More funding details

• Lead investor: D1 Capital Partners
• Stage: Series D

More company updates

• According to XTransfer, the new capital comes as China’s exports recover from last year’s slump, reaching record highs in the first seven months of 2021.
• The Shanghai-based startup aims to hire more global talent to fuel its expansion to overseas markets. It currently has offices in Hong Kong, Canada, Japan, Australia, Singapore, the US, and UK.
• XTransfer, which provides small and medium-sized businesses with services such as opening collection accounts and currency exchange settlements, will use the new funds to upgrade its products and services and invest in AI and big data.
• Previous backers of XTransfer include Yunqi Partners, Gaorong Capital, 01 Capital, Alibaba-backed fund eWTP, Telstra Ventures, and MindWorks Capital. Some of its existing investors also joined the round, but XTransfer did not disclose the names of these investors.

For more coverage of the company, head here. You can also click on the link below to view key details about the company, as well as its funding history.