Hong Kong-based digital payment services provider Statrys has raked in $5m funding round to expand its product offering for small businesses (SMEs) in Asia.
The funding round was led by an angel investor in the region via a closed-door funding arrangement.
Statrys offers alternative payments solutions to SMEs, startups, and entrepreneurs, who require banking and forex (FX) solutions for their growth.
Statrys will use the fresh capital to roll out its Statrys Debit Payment Mastercard for entrepreneurs in Hong Kong.
They can use this card to make payments from their Statrys business accounts at participating merchants.
Currently, they can only transact in the local currency HKD.
Statrys is planning to offer digital and FX payments to SMEs globally, allowing them to make payments in any currency.
The company already used the fresh investment for its website overhaul.
Next, Statrys is eyeing for integrations and other tools, among other platform features.
Its Statrys-Xero integration is currently in development, which will help sync payments to Xero’s account – an accounting software company.
Moreover, Statrys currently offers FX payments in 11 different currencies, with plans to add more later.
The latest funding round will help the company expand its presence in ASEAN countries like Singapore, Thailand and Indonesia.
Statrys founder and CEO Bertrand Theaud said: “After a few months of operations, our business has already reached upwards of HKD500m remittance and HKD200m FX dealings.
“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 Southeast Asia.”
“We want to position Statrys to answer the needs of companies present in these regions as they are looking for better solutions to deal with payments and FX.”