Announcing a US$4M Extension to our US$11M Series A funding as we support entrepreneurs through COVID-19
We’re excited to announce that we’ve raised a US$4M extension to our US$11M Series A round closed in April 2020. Existing investors MassMutual Ventures, Pacific Century Group, Linear Capital and Robby Hilkowitz as well as new investor Vectr Fintech participated in the Series A Extension.
At Neat, our vision is to enable the entrepreneur economy. While global travel has come to a standstill, cross-border trade has not and SMEs continue to look for solutions that can support them in trading globally. With our online company incorporation package and multi-currency Neat Account, we are perfectly positioned to support international SMEs during a time where physical travel has been challenging.
Supporting SMEs grow globally during COVID-19
While COVID-19 has caused an economic slowdown, new company incorporations are still on the rise with more than 175,000 new companies incorporated in the UK in Q2 of 2020 compared to 170,000 the same period last year; in Hong Kong, over 27,000 companies were incorporated in Q2 of 2020. These are companies that may previously have turned to traditional high street banking providers, but are now looking at digital alternatives to get their businesses up-and-running.
“Some of the world’s most successful companies were born during or just after the financial crisis of 2008, think of WhatsApp and Uber. The majority of businesses founded during COVID-19 will have a digital-first mindset, which means they will have an opportunity to start trading globally from day one. We’re excited to be supporting this new wave of international entrepreneurs,” said David Rosa, CEO of Neat.
With the new funding, we will continue building the features we’ve committed to, while also being able to further improve our customer support experience and fuel our growth.
We’re developing the next generation of Neat Cards with Visa
Since we last announced our partnership with Visa we’ve been busy developing our new Neat Visa Cards, and we’re now in the final stages of development.
While the prepaid cards we’ve been offering are accepted by many merchants, the new Visa Cards will be accepted anywhere the Visa logo is displayed, ensuring you can make all of your business expenses with your Neat Corporate Cards.
What’s more, the Neat Visa Cards will offer cashback on any purchase and discounts with some of the world’s most popular merchants for SMEs, such as Xero and Shopify. Stay tuned!
24/7 support, wherever and whenever works for you
Over the past months, we’ve invested heavily in expanding our customer solutions team and we’re proud to say we’ve significantly reduced our response times. We’re now also offering overnight support for urgent issues, as well as have widened our support hours for chat.
We are committed to continue improving our support experience and aim to be available whenever and wherever works for you. As an example, we’ve recently started testing our new WhatsApp customer support channel and as the responses have been overwhelmingly positive, we will soon make this available to more customers.
Growing our customer base around the world
In order to keep expanding our product range and improve your experience with Neat, we need to continue our growth journey.
Besides investing in the customer support experience, we’ve also improved our sign-up process and made sure anyone can chat to our team before signing up. Simply reach out to us at [email protected] to have a chat or demo! If you’ve already signed up and have any friends interested in Neat, head to your Neat Business Dashboard to view your referral code and get $ rewards.
Lastly, we would like to thank you: our customers, partners and network for your constant feedback, support and trust. We’re proud of what we’ve achieved up to now, but realise there is still a long road ahead of us and there is plenty of untapped potential to get closer to achieving our mission of enabling the entrepreneur economy and making international trade frictionless. We’re excited to continue adding features and improvements, and we hope you’re as excited to try them out and be part of our journey!