Fintech
CBiGroup Completes $15 Million Series A Financing
Fintech group based in the United States, CBiGroup completes $15 million Series A financing. Alpol Capital Family Office, known for its investments in new technologies, led the financing round.
According to Jiangtao Sun, founder of CBiGroup, the funds will enhance research and development, focusing on new technologies to improve products and promote innovation.
Founded in 2017, CBiGroup offers comprehensive global financial services for international trade. The company provides business banking, global transfers, Visa and UnionPay cards and supports transactions in 163 countries. Partnering with over 120 banks and financial institutions, CBiGroup has built a trusted global clearing network, catering to over 100,000 international businesses and users.
In 2022, the global cross-border payments market was valued at $181.9 trillion and is expected to reach $356.5 trillion by 2032, growing at a CAGR of 7.3%. The Asia-Pacific region is set to see the fastest growth, becoming a fintech innovation hub with startups using blockchain technology, artificial intelligence and mobile apps to develop advanced payment solutions.
In 2016, Sun identified the unmet need for cross-border and international settlement services among commercial enterprises, particularly SMEs. He founded CBiGroup in 2017, leading the team to secure multiple financial licenses and develop the CBiLink banking system. They have built strong security, compliance and risk management teams to support their international and cross-border financial services.
CBiBank, a subsidiary of CBiGroup, offers almost completely online business processes that simplify cross-border payments, global transfers and forex trading, providing convenient, secure and efficient financial services anytime, anywhere.
“We believe in CBiGroup’s leadership position and growth potential in the industry. This investment will help CBiGroup achieve significant advances in fintech,” says Daniel Morra, CIO of Alpol Capital Family Office.
“We are grateful for the trust and support of our investors. This investment recognizes our achievements and motivates our future growth. CBiGroup will continue to focus on innovation and user experience, leveraging advanced artificial intelligence to provide innovative, high-quality cross-border payments and international financial solutions,” says Jiangtao Sun, founder of CBiGroup.