# Xfers Pte

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/xfers-pte

- Industry: Financial Services
- Headquarters: Singapore, Singapore
- Website: www.xfers.io
- Total disclosed funding: $2.6M
- Latest round: Seed (Jan 6, 2016)
- Investors on record: 8

## About

Based in Singapore, Singapore, and founded in 2014 by TianWei Liu, TianYao Liu, Victor Liew and Samson Leo, Xfers Pte Ltd is a fintech company that provides a platform for businesses and individuals to send and accept payments and track cashflow. The company is licensed by the Monetary Authority of Singapore (MAS) for e-money issuance. In March 2021, Xfers raised USD 30 million in venture funding led by PT Payfazz Teknologi Nusantara. With this venture funding, the company has raised a total of USD 32.62 million in funding.

Xfers provides a range of financial rails including the Xfers Wallet, Xfers Accept, Xfers Send, Xfers Direct, and StraitsX stablecoin (XSGD).  The company connects online businesses to multiple payment methods including e-wallet, bank transfers and offline channels like convenience stores and agent banking networks.

The company generates revenue from charging fees for personal and business accounts. These fees include the top-up fee, withdrawal fee, transfer fee, XSGD deposit fee, and XSGD withdrawal fee.

The company plans to use its proceeds from March 2021 to expand into Vietnam, Malaysia, the Philippines, and Thailand.

## Funding rounds

- Seed, Jan 6, 2016, $2.5M — Partech Partners, 500 Global, Golden Gate Ventures, GMO VenturePartners, Convergence Ventures, Lazena Investment, BWB Ventures
- Seed, Aug 14, 2015, $0.1M — Y Combinator

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- Partech Partners (https://capitalatlas.ai/funds/partech-partners) — Seed
- 500 Global (https://capitalatlas.ai/funds/500-global) — Seed
- Golden Gate Ventures (https://capitalatlas.ai/funds/golden-gate-ventures) — Seed
- GMO VenturePartners (https://capitalatlas.ai/funds/gmo-venturepartners) — Seed
- Convergence Ventures — Seed
- Lazena Investment — Seed
- BWB Ventures (https://capitalatlas.ai/funds/bwb-ventures) — Seed