New York, May 23, 2024 (GLOBE NEWSWIRE) -- CBiGroup, a Fintech Group based in the U.S., has secured $15 million in Series A funding. Alpol Capital Family Office, known for its investments in new technologies, led the funding round.
Founder Jiangtao Sun announced that CBiGroup will use the funds to boost research and development, investing in new technologies to enhance products and drive innovation. The company aims to explore cutting-edge technologies and leverage advanced AI to deliver high-quality, innovative cross-border payment and international financial solutions.
Founded in 2017, CBiGroup provides comprehensive global financial services for businesses engaged in international trade. The company offers corporate banking, global transfers, Visa and UnionPay cards, and support clients’ transactions across 163 countries and regions. With partnerships with over 120 banks and financial institutions, CBiGroup has built a reliable global clearing network, addressing various payment and asset allocation needs for over 100,000 international businesses and users.
In 2022, the global cross-border payment market was valued at $181.9 trillion and is expected to reach $356.5 trillion by 2032, growing at a CAGR of 7.3% (Allied Market Research). The Asia-Pacific region is poised for the fastest growth, becoming a hub for fintech innovation, with many startups using blockchain technology, AI, and mobile apps to develop advanced payment solutions (Allied Market Research).
The rise of e-commerce platforms has enabled global sales, increasing the demand for efficient cross-border payment mechanisms. Additionally, the growing migrant population has driven the need for remittance services.
Jiangtao Sun, an alumnus of Tsinghua University, is a serial entrepreneur in fintech. He took Shenzhou Pay public in Hong Kong in 2013 as China Binary New Fintech Group. He also founded Qian Dai Bao in 2008, which received strategic investments in 2014 and was fully acquired by Meituan in 2016.
In 2016, Sun identified the unmet need for cross-border and international settlement services among trade businesses, especially SMEs. He founded CBiGroup in 2017, leading the team to secure multiple financial licenses and develop the CBiLink banking system. They built strong security, compliance, and risk management teams to support their international and cross-border financial services.
CBiBank, a subsidiary of CBiGroup, offers several advantages over traditional banks:
1. Friendly account opening approaches and efficiency processing with an average of one week.
2. Fully online operations accessible from anywhere with an internet connection.
3. Tailored services for businesses engaged in international trade with user-friendly interface.
4. Responsive customer service team to quickly resolve issues.
5. Comprehensive product offerings, including linked corporate and personal accounts, special UnionPay and Visa card solutions.
CBiBank’s nearly fully online processes simplify cross-border payments, global transfers, and forex trading, providing convenient, secure, and efficient financial services anytime, anywhere.
"We believe in CBiGroup's leading position and growth potential in the industry. This investment will help CBiGroup achieve significant breakthroughs in fintech," says Daniel Morra, CIO of Alpol Capital Family Office.
"We are grateful for the trust and support from our investors. This investment recognizes our achievements and motivates our future growth. CBiGroup will continue to focus on innovation and user experience, leveraging advanced AI to provide high-quality, innovative cross-border payment and international financial solutions," says Jiangtao Sun, founder of CBiGroup.
More about CBiGroup: https://www.CBiBank.com/
Attachment
