With the growth in cross-border payment services and ‘challenger’ bank cards for consumers, you’d be forgiven for wondering where the options are for small business — where cash is particularly precious. They do exist . One of the newer options is Neat , which is nested in Hong Kong but open for business worldwide. The startup started off following the same track as the likes of Monzo, Starling and Revolut in Europe, developing a ‘new’ kind of account free of branch-based banking and tedious paperwork. But quickly the team realized that its service was being adopted in large by startups and SMEs as a way to get more flexible financing and perks like install balance/billing. Neat still offers a consumer service in Hong Kong , but it places a heavy focus on developing its business service. Right now, that helps companies who can’t apply for credit cards get a Neat Mastercard which can be used for trivial (but important!) items such as monthly bills for services, flights, hotels and more. There’s no credit involved since the cards and account are debit-based. Beyond the basics, Neat Business customers can use their account to handle employee payroll, business invoices, receive money and really pay all other bills that would require a credit card without using their personal one, as is so often the case for early-stage startups. More advanced features include expense cards for employees, while detailed company reporting and automated accounts are planned for introduction soon. The company is based in Hong Kong, but Neat’s service can be used overseas, and indeed it already is. Co-founder and CEO David Rosa, a former managing director of Citi Bank Asia Pacific, told TechCrunch that the company has customers in over 100 countries since account holders don’t need to be resident in, or incorporated in Hong Kong, to qualify for the service. That said, a large portion is based in or associated with Hong Kong as it stands today, but Rosa — who started the business in 2015 alongside CTO Igor Wos — said he wants to change that and grow the userbase globally. The fact that Neat is working on introducing multi-currency solutions, as well as accountancy software integrations, is sure to help widen its appeal to those based outside of Hong Kong. (Left to right) Neat co-founders Igor Wos (CTO) and David Rosa (CEO) In a further validation, Neat recently snagged $2 million in funding to develop its tech and increase marketing.
Cloud-based file transfer company WeTransfer acquires FiftyThree, which makes the popular Paper app, including its entire patent portfolio and…
Taylor Soper / GeekWire : Cloud-based file transfer company WeTransfer acquires FiftyThree, which makes the popular Paper app, including its entire patent portfolio and executive team — File-sharing company WeTransfer has acquired the Paper and Paste creative apps from FiftyThree.