(Yicai Global) March 28 -- Cross-border fintech company iPaylinks Financial Information Service (Shanghai) Co. has completed its Series-B1 funding, raising several hundred million yuan to power its team expansion, international development and overseas investment and mergers and acquisitions, internet media 36kr.com reported. Tech titan Tencent Holdings Ltd. led the round, followed by Legend Capital Management Co. This is Tencent’s first investment in a domestic cross-border payment service startup.
iPayLinks has started business cooperation with other companies Tencent-invested companies. Tencent earlier invested in Australia’s cross-border payment company Airwallex Pty Ltd., which was one of the former’s strategic plans in the field of overseas payment. The parties have cooperated in overseas WeChat settlement and other business areas.
iPayLinks mainly engages in cross-border payments, platform remittances and cross-border lending services, mainly serving China’s internet companies that have gone global and providing integrated solutions based on sector characteristics. Its customers cluster in several industries like cross-border e-commerce, outbound tourism, education and overseas study and virtual games, public information shows.
iPayLinks’ ‘one-stop cross-border financial service platform’ supports over 200 payment methods worldwide, covering North America, Europe, the Middle East, Africa, Southeast Asia and Latin America. It accepts online payment of mainstream international credit cards, debit cards, prepaid cards and virtual cards worldwide. It also supports offline convenience stores, ATMs, cash on delivery, operator SMS withholding, time cards, online banking transfers and other services. Another company product, ‘Cross-border Loans,’ furnishes Amazon.com, eBay.com, and Aliexpress.com and others with export sale supply-chain financing services. Shanghai-headquartered iPayLinks has offices in New York, London, Hong Kong, Singapore and Kuala Lumpur, Malaysia.