Xfers

Xfers
Industry Payments, Finances
Founded October 2014
Founders Tianwei Liu, Samson Leo, Wen Bin Tay, Victor Liew Jia Hao
Services E-wallet, Internet Banking
Website https://www.xfers.io

Xfers is a Singaporean-based payment processing gateway, offering credit card processing and internet banking transfers.[1] It is presently located at Blk71 and was incubated under NUS Enterprise.[2] They graduated from Y Combinator's Summer 2015 Class and planned to expand to other locations throughout South East Asia. [3]

The service makes it easy for users to pay, receive and manage internet banking transactions in Asia. For example, merchant can manage multiple transactions on their dashboard. Moreover, it enables C2C payments, aimed mainly at peer-to-peer transactions, where buyers and sellers who use marketplaces or social networks can easily manage their P2P transactions.[4]

Xfers powers payments for fintech companies such as Coinbib and CoinHako. It also offers its payment gateway to clients such as Jetpack, Trezo.[5] It works with all major retail banks in Singapore and is compliant with the country’s FAST protocol (Fast And Secure Transfers), which enables near-instant electronic money transfers between banks.[6]

On January 2016, Xfers announced its first round of seed funding.[7] It raised over 2.5 million USD, where its investors includes venture capital firms such as Quest Ventures, 500 Startups, Golden Gate Ventures and angel investors such as Eduardo Saverin. [8] It is expanding into the Jakarta market, where its new office will be located at South Jakarta, JL Thamrin Boulevard. [9]

References

  1. ↑ Yap, Shiwen. "Singapore: Xfers raises $2.5m seed funds from Eduardo Saverin, Golden Gate Ventures, 500 Startups, others". DealstreetAsia. Retrieved 6 April 2016.
  2. ↑ "5 Top Places Technology Entrepreneurs Must Visit In Singapore". Retrieved 6 April 2016.
  3. ↑ "Y Combinator Summer 2015". Retrieved 6 April 2016.
  4. ↑ Goh, Emily. "17 startups in Asia that caught our eye". Retrieved 6 April 2016.
  5. ↑ Hwei, Liang. "S'pore Startup JetBay Wants To Help You See China In A Way You Never Thought Possible". Vulcanpost. Retrieved 6 April 2016.
  6. ↑ "These entrepreneurs will leave Bay Area, return to Singapore to simplify C2C payments". Retrieved 6 April 2016.
  7. ↑ "Singapore-based Xfers Lands $2.5M To Simplify Bank Transfers For Online Sellers". Retrieved 6 April 2016.
  8. ↑ "Quest Ventures Portfolio". Retrieved 6 April 2016.
  9. ↑ Tegos, Michael. "P2P payments startup Xfers eyes Indonesia with $2.5m seed funding". Techinasia.
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