CBiGroup Completes $15 Million Series A Funding to Boost Fintech Innovation
- Written by: Telegraph Magazine
NEW YORK, US - Media OutReach Newswire - 24 May 2024 - 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.
The funds will enhance R&D, focusing on new technologies to improve products and drive innovation, according to Jiangtao Sun, founder of CBiGroup. Founded in 2017, CBiGroup offers comprehensive global financial services for international trade. The company provides corporate banking, global transfers, Visa and UnionPay cards, and supports transactions across 163 countries. Partnering with over 120 banks and financial institutions, CBiGroup has established a reliable global clearing network, catering to 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%. The Asia-Pacific region is set for the fastest growth, becoming a fintech innovation hub with startups using blockchain technology, AI, and mobile apps to develop advanced payment solutions.
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 nearly fully online business 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/
Hashtag: #CBiGroup
The issuer is solely responsible for the content of this announcement.
