EMQ, Hong Kong-based financial settlement network, announced the issuance of US$20 million Series B preferred shares led by WI Harper Group.
New and existing investors participated in the funding round including Abu Dhabi Capital, AppWorks, DG Ventures, Hard Yaka, Intudo Ventures, January Capital, Quest Venture Partners, SparkLabs Taipei, Vectr Fintech Partners, and VS Partners.
EMQ will use the investment to further accelerate its international growth, product development and licensing activities across Asia, Europe and the Americas.
“This new funding marks a significant milestone in our next phase of strategic growth as we continue to innovate and deliver a network infrastructure that complies with regulatory requirements and streamlines the complexities in processing real-time international payments across the whole payment ecosystem.”
“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 US$218 trillion by 2022,”
said Max Liu, co-founder and CEO of EMQ.
Currently, EMQ’s network spans across Asia Pacific, Africa, Europe and North America, with access to over 80 key global markets and millions of digital endpoints. In early 2019, EMQ was the first startup to be accepted into regulatory sandbox by the Financial Supervisory Commission in Taiwan.
Featured image credit: screengrab from Youtube
