EasyEuro receives funding for its neobank offer

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  • The firm has received investment from a range of companies including the China-based firm Ally Capital plus several others
  • The team behind EasyEuro is experienced and is also international in scope and perspective
  • “EasyEuro currently focus on providing innovative financial services for cross-border SMEs operating between China and Europe,” said a statement from the firm

An all-new French “neobank” offering cross border payments services has received a round of investment funding.

EasyEuro has received $4 million in funding from a range of providers.

One of these is Ally Capital, which is based in the Chinese city of Shanghai – and which led the round.

Other investors included Huashan Capital and Unity Assets as well as other investment names such as Geowift and SwiftPass.

It is understood that the funding is earmarked to get the EasyEuro project, which has a particular focus on building financial services bridges between Asia and Europe, off the ground.

EasyEuro was founded back in 2017, making it around only three years old. It calls itself an “API Bank”, with API standing for application programming interface.

Small to medium-sized enterprises are expected to be included as new customer target groups.

And there’s a clear focus on the Chinese market, too. The firm is understood to be catering to international companies which are working in both Europe and the major Asian economy.

When EasyEuro’s clients get on board, they will be able to acquire a MasterCard which is connected to their account on EasyEuro.

This will, in turn, be able to be used across the world. And it will also be compatible with a range of well-established payment methods – such as MasterCard, Visa and UnionPay.

Big-name Chinese payment methods, such as Alipay and WeChatPay, will also be supported.

According to a statement from EasyEuro, the team behind the firm have an “international vision”.

“EasyEuro gives you new passport to manage your business in more than 130 countries and regions,” they said.

“EasyEuro was founded by a group of professionals with international vision and passion that come together with a clear purpose – make cross-border payment easier and more efficient.

And it added that the team members had experience working in lots of different institutions.

“The core members of the company are from well-known companies such as Ant Financial, Huawei, HSBC, Western Union and MasterCard,” it said.

“EasyEuro currently focus on providing innovative financial services for cross-border SMEs operating between China and Europe,” it added.

As well as receiving the funding, the firm has also been granted regulatory approval to operate by a major regulatory body in the UK.

It has been designated an authorised e-money institution by the regulator the Financial Conduct Authority, which is also known as the FCA.

The online money transfer sector is highly dynamic, and there are important developments happening in it all the time. To learn more about what’s going on in this field, check our magazine pages.


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