Inclusive Fintech 50 Selects Neat for 2020 Cohort
Hong Kong based newcomer Neat identified as one of the world’s top young fintechs leading the charge for global financial inclusion
Neat was today named as part of Inclusive Fintech 50’s 2020 cohort – a trailblazing, socially-focused, global competition recognising the world’s most ambitious, innovative and financially inclusive early-stage fintechs.
Founded by MetLife Foundation and Visa with support from IFC and Accion, with additional funding from Blackrock and Jersey Overseas Aid & Comic Relief the initiative was established to make young, viable fintechs more visible to investors and partners who can help them scale to reach more of the financially underserved global population – estimated to be an eye watering 3 billion people.
Neat was chosen by Inclusive Fintech 50 out of more than 400 applicants worldwide for its vision, innovation, scalability and traction in making the world of international trade more accessible to entrepreneurs and MSMEs from across the globe. Its purpose-built platform enables businesses to quickly, simply and securely incorporate and sign up for an account in Hong Kong, receive and transfer multi-currency funds at competitive rates, access to corporate cards, integrate with accounting and payment gateways and beyond – services that have historically proven unavailable or too costly for many small businesses. Since its launch in 2017, Neat has grown to more than 28,000 customers, empowering businesses from over 35 countries to expand and trade internationally.
‘We’re beyond thrilled to have been recognised by an initiative championing such positive change and humbled to join an incredible community of fellow fintechs striving for greater financial inclusion. We’re passionate about helping our customers grow their business internationally and honoured to have the support of Inclusive Fintech 50 in doing so. We’re very excited about the future.’
Said Neat’s CEO, David Rosa
With the COVID-19 pandemic magnifying the economic vulnerabilities of low income households and MSMEs, Inclusive Fintech 50 stresses the importance of financial inclusion and resilience:
‘Inclusive financial services can help vulnerable populations withstand income volatility, build and replenish emergency savings, access quality health insurance, and plan for and afford basic necessities. Innovative fintechs can dramatically enhance financial inclusion and financial resilience by reducing client-level transaction costs, increasing transparency, and improving the efficiency and affordability of expanding service access to more people.’
About Inclusive Fintech 50
Inclusive Fintech 50 elevates promising early-stage fintechs driving financial inclusion and resilience around the globe through a competitive process led by an independent panel of judges from venture capital, technology, and financial services. Applicants are assessed on the degree to which their target market includes underserved people or businesses, and whether their innovation offers a new value proposition, shows early-stage traction, and can have a noticeable impact on the more than 3 billion financially underserved people globally. Inclusive Fintech 50 was founded by MetLife Foundation and Visa, with support from Accion and IFC, and additional funding from BlackRock and Jersey Overseas Aid & Comic Relief. The initiative is implemented by MIX, the global data resource for investors focused on inclusive finance. Learn more at www.inclusivefintech50.com.
Neat makes the world of international trade more accessible to entrepreneurs, SMEs and ambitious young companies from across the globe. It’s purpose-built, financial services platform enables businesses to quickly, simply and securely incorporate and open an account in Hong Kong, allowing them to receive and transfer multi-currency funds at competitive rates, issue Visa corporate cards to employees, integrate with accounting and payment gateways and more. The application process is fully online and can be completed in just 15 minutes – no paperwork, no mandatory travel, no inflated fees, high exchange rates, hefty minimum balances or lengthy waiting times.
Since its launch in 2017, Neat has opened more than 28,000 customer accounts, helping businesses from over 35 countries (and counting) to expand and trade internationally. Its 70-strong team is spread across offices in Hong Kong and London with an office in Singapore due to open soon. Neat is constantly working to expand its incorporation and account services to more countries with plans to launch its own marketplace and escrow solution in the near future.
To discover how Neat is working to expand the entrepreneur economy, visit neatcommerce.com.