Hong Kong-based fintech firm EMQ secures $20m in Series B round

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Hong Kong-based financial settlement network EMQ has secured $20 million in a Series B round of financing led by cross-border venture capital firm WI Harper Group to accelerate its international expansion.

The Series B round was backed by Abu Dhabi Capital; DG Ventures, an investment arm of Japan-based Digital Garage Group; California-based venture capital firm Hard Yaka; early-stage VC Quest Venture Partners; Indonesia-based Intudo Ventures; and January Capital, an investment firm that backs founders in the Asia Pacific, per a statement on Tuesday.

Hong Kong-based investment firm Vectr Fintech Partners, Taiwan-based startup accelerators AppWorks and SparkLabs Taipei, as well as VS Partners also participated in the new round.

EMQ offers cross-border settlement solutions to businesses around the world while adhering to regulations and compliance standards in different markets. Its network infrastructure can be used for a broad range of services, including e-commerce, merchant settlement, procurement, remittance, and payroll.

“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,” said Edward Liu, a partner at WI Harper Group, in the statement.

Founded in 2014, EMQ is currently licensed in Hong Kong, Singapore, Indonesia and registered as a Money Service Business in Canada. EMQ was also accepted into Taiwan’s Regulatory Sandbox by the Financial Supervisory Commission in Taiwan, according to the statement.

“As we look to the future, we will continue to invest significantly towards constant innovation of our cross-border solutions and compliance capabilities, to deliver additional value to the global payments ecosystem and capitalize on the explosive growth of cross-border B2B payments market – valued to exceed $218 trillion by 2022,” said Max Liu, co-founder and CEO of EMQ.

The startup raised $6.5 million in a Series A round from Silicon Valley entrepreneurs and international venture capital firms in December 2017.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.