Digital Payment Startup Statrys Raises US$5 Million in Closed-Door Funding Roundby Fintech News Hong Kong November 2, 2020
Statrys, a Hong Kong-based digital payment services platform, has raised US$5 million in a closed-door funding round with an angel investor in the region.
Statrys is a payments solution alternative geared towards SMEs, startups, and entrepreneurs who require flexible banking and advanced Forex solutions.
The new funding round is a part of Statrys’ global growth strategy, starting with a big push into Asia to help support SMEs and entrepreneurs. The company intends to expand to other ASEAN countries like Singapore, Thailand and Indonesia.
The global digital payment and remittance market was valued at USD $2.99 billion in 2019 and is expected to continue growing at a CAGR of 27.6%. According to a recent report by MarketWatch, the global digital payments and remittance market is expected to reach USD $16.79 billion by 2025.
“After a few months of operations, our business has already reached upwards of HKD 500 million remittance and HKD 200 million FX dealings. This clearly validates our original assumption that there is a big demand for the services we provide at Statrys.
This new financing will help us to accelerate the development of the company both in terms of products, with the addition of local currency accounts, payment card, integration with accounting software, and geographically, as we will target new markets in South East Asia”
said Bertrand Theaud, Founder & CEO of Statrys.
Among other platform features, integrations are the next big goal post for Statrys. The Statrys-Xero integration which is currently in development will help synchronise payments to Xero accounts, bridging a gap between payments and accounting software.
Statrys’ Forex trading features offer payments and trades in 11 different currencies with plans for more to come in the future.
Statrys will also be launching its own debit payment Mastercard for Hong Kong, enabling local entrepreneurs to make payments from their Statrys business accounts at all Mastercard participating retailers and vendors, currently in HKD only.
Featured image: Statrys