SUNRATE expands footprint in Vietnam to fuel growth across APAC regions

By Gloria Mathias

SUNRATE, an intelligent global payment and treasury management platform, has announced its official launch in Vietnam and appointed Li Tao as its Head of Growth.

This comes at a pivotal moment for SUNRATE, as the company continues to strengthen its global footprint, especially in the Asia-Pacific region. Reporting to the co-founder, Joshua Bao, Li Tao will drive the company’s efforts to spearhead growth initiatives and foster collaboration across business units to identify market opportunities in Emerging Asia.

Strategically partnering with local licensed and global financial institutions, SUNRATE chose to launch its platform in Vietnam due to the strong customer demand and the major challenges that the fast-growing SME segment across different verticals faces in its operations. SUNRATE offers global payment products and services, including international payments and global collection services, to facilitate cross-border B2B payments that are fast, secure, transparent, compliant with regulations, and cost-effective for Vietnamese businesses.

Joshua Bao, co-founder of SUNRATE, said, “As the leading global cross-border B2B payment platform in emerging markets, we have been making steady progress. By strategically appointing a senior leader with extensive experience like Li Tao, we are charting our path forward to continue empowering businesses worldwide and scaling both globally and locally.”

“Li Tao will also be instrumental in leading SUNRATE Vietnam’s growth, and setting up local operations is just the initial step in our plan for expansion across Emerging Asia. According to the Vietnam General Statistics Office, Vietnam’s import and export of goods in April 2024 reached a total of $61.20 billion, an increase of 15% from the same period in 2023. Between January and April 2024, the total trade in goods reached $238.88 billion, increasing by 15.2 percent year-on-year, indicating that Vietnam is continuing to recover from 2023. I’m brimming with excitement and optimism for the incredible phase that lies ahead, and to welcome Li Tao to the team; he will be instrumental as we supercharge our operations in Vietnam and the Asian region.”