This partnership aims to enhance collaboration in cross-border finance, allowing both parties to jointly offer Chinese foreign trade enterprises more secure, efficient, and convenient global collection and cash management services.
Senior executives from both sides attended the signing ceremony, including Bill Deng, the Founder and CEO of XTransfer, and Yan Jun, the Vice President of CZBank Shanghai Branch. This partnership marks a significant step forward in supporting SMEs and promoting the digital transformation of international trade.
CZBank has consistently focused on its original mission, "Serving the real economy, Serving SMEs, and Serving innovative enterprises". The bank has extensive experience in cross-border finance and supply chain finance, along with strong service capabilities and a proven track record of continuous innovation. This year, CZBank Shanghai Branch and XTransfer are further enhancing their strategic cooperation to support Chinese exporters in efficiently establishing global collection channels and strengthening the security and convenience of cross-border capital flows.
As the world's leading and China's top B2B foreign trade financial platform, XTransfer is dedicated to using technology to connect SMEs with global financial institutions. XTransfer offers a wide range of financial solutions, including foreign trade payment and collection services, multi-currency cash management, and risk control services. Currently, XTransfer serves over 700,000 corporate clients worldwide.
During the signing ceremony, Bill Deng, Founder and CEO of XTransfer, expressed enthusiasm about the new partnership, stating, "We are pleased to establish a comprehensive strategic partnership with the CZBank Shanghai Branch. CZBank possesses extensive experience and robust resources in cross-border financial services. By combining their strengths with XTransfer's innovative technology and global network, we will work together to provide foreign trade enterprises with high-quality financial infrastructure, enabling them to grow steadily in global markets."
Yan Jun, Vice President of CZBank Shanghai Branch, stated, "CZBank is dedicated to supporting SMEs in their efforts to develop cross-border trade. Our partnership with XTransfer marks an important step in expanding our global financial services network. We will leverage XTransfer's platform advantages alongside our financial expertise to create a more professional and resilient cross-border financial service system, empowering Chinese enterprises to expand their reach and operate globally."
Looking ahead, the two parties will engage in extensive cooperation in areas such as Local Account services, multi-currency settlement, risk control system development, and expansion into emerging markets, jointly promoting innovation and upgrades within China's foreign trade financial ecosystem.
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About XTransfer
XTransfer, the world-leading and China's No.1 B2B Cross-Border Trade Payment Platform, is dedicated to providing small and medium-sized enterprises (SMEs) with secure, compliant, fast, convenient and low-cost foreign trade payment and fund collection solutions, significantly reducing the cost of global expansion and enhancing global competitiveness. Founded in 2017, the company is headquartered in Shanghai and has branches in Hong Kong SAR, the United Kingdom, the Netherlands, the United States, Canada, Australia, Singapore, Vietnam, Thailand, Malaysia, the Philippines, the UAE, and Nigeria. XTransfer has obtained local payment licences in Mainland China, Hong Kong SAR, Singapore, the United Kingdom, the Netherlands, the United States, Canada, and Australia. To date, XTransfer serves over 700,000 enterprise clients worldwide.
By cooperating with well-known multinational banks and financial institutions, XTransfer has built a unified global multi-currency clearing network and a data-based, automated, internet-based and intelligent anti-money laundering risk control infrastructure centred on SMEs. XTransfer uses technology as a bridge to link large financial institutions and SMEs around the world, allowing SMEs to enjoy the same level of cross-border financial services as large multinational corporations.
XTransfer completed its Series D financing in September 2021 and achieved unicorn status. The company has a diverse composition of international investors, including D1 Capital Partners LP, Telstra Ventures, China Merchants Venture, eWTP Capital, Yunqi Capital, Gaorong Capital, 01VC, MindWorks and Lavender Hill Capital Partners.
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