Sunrate, a Singapore-based provider of a provider of a payment and treasury management platform, raised an undisclosed amount in Series D-1 funding.
The round was led by Prosperity7 Ventures and included a subsequent investment by Softbank Ventures Asia.
The company intends to use the funds to accelerate further expansion plans, as well as make strategic investment to further deepen its products and services, such as international payments and global collection services, to reinforce its position as a cross-border B2B payment platform in emerging markets.
Led by Mr Paul Meng, Sunrate is an intelligent global payment and treasury management platform for businesses worldwide. Since its inception in 2016, it has enabled companies to operate and scale both locally and globally in 150+ countries and regions with its proprietary platform, extensive global network, and APIs.
With its global headquarters in Singapore and offices in Hong Kong, Jakarta, London and Shanghai, Sunrate partners with financial institutions, such as Citibank, Standard Chartered, Barclays and is the principal member of both Mastercard and Visa.
Recently, the company also announced that it has obtained the Capital Markets Services (“CMS”) licence from the Monetary Authority of Singapore (“MAS”).
FinSMEs
28/06/2023