EMQ announces closure of $20 million Series B funding round

By Edil Corneille

EMQ, Asia’s financial settlement network, announced the issuance of $20 million Series B Preferred Shares, led by WI Harper Group. New and existing investors including Abu Dhabi Capital, AppWorks, DG Ventures, Hard Yaka, Intudo Ventures, January Capital, Quest Venture Partners, SparkLabs Taipei, Vectr FinTech Partners, and VS Partners participated.

The Hong Kong-based network will use the investment to further accelerate its international growth, product development, and licensing activities across Asia, Europe, and the Americas.

“At EMQ, we are building a global settlement network that enables everyone to send money anywhere in the world and to any end point with a simple one-stop integration,” said Max Liu, co-founder and CEO of EMQ. “This new funding marks a significant milestone in our next phase of strategic growth as we continue to innovate and deliver a network infrastructure that complies with regulatory requirements and streamlines the complexities in processing real-time international payments across the whole payment ecosystem. We are excited to partner with WI Harper as well as our new and existing VCs, who share our passion to make infrastructure a competitive advantage for next-generation enterprises.”

With a network footprint touching billions of people, EMQ’s flexible and scalable infrastructure eliminates unnecessary intermediaries and directly integrates to all the end-points, facilitating seamless, real-time, and cost-effective cross-border settlements.

Currently, the network spans across Asia Pacific, Africa, Europe, and North America, with access to over 80 key global markets and millions of digital endpoints. The company is currently licensed in Hong Kong, Singapore, Indonesia, and is registered as a Money Service Business in Canada. EMQ was also accepted into Taiwan’s Regulatory Sandbox by the Financial Supervisory Commission in Taiwan.

“As digital transformation intensifies globally, enterprises today are increasingly international in scale and they will require a network infrastructure like EMQ with greater speed, more certainty, increased flexibility and transparency, to expand their business in Asia and beyond. We are excited to partner with the EMQ team to expand its market-leading position in cross-border business payments globally,” said Edward Liu, Partner at WI Harper Group.

“As we look to the future, we will continue to invest significantly towards constant innovation of our cross-border solutions and compliance capabilities, to deliver additional value to the global payments ecosystem and capitalize on the explosive growth of cross-border B2B payments market – valued to exceed US$218 trillion by 2022,” Liu added.