The Alibaba-backed ETWP Fund led a series B-1 round for XTransfer, which will put the cash towards expanding its cross-border financial services.
China-based cross-border financial services provider XTransfer has closed a $15m series B-1 round led by EWTP Fund, a vehicle for trade organisation Electronic World Trade Platform, which is backed by e-commerce group Alibaba.
The round included China Merchants Venture Capital, the venture capital arm of investment manager China Merchants Capital, as well as VC firms 01VC, Yunqi Partners and Gaorong Capital.
XTransfer offers financial services to small and medium-sized enterprises (SMEs), helping Chinese businesses collect and make payments, collect debts,…
