Fintech start-up EasyEuro raises tens of millions of yuan in Pre-A financing round

EasyEuro has closed its Pre-a financing round raising tens of millions of yuan. The round was led by Ally Capital and Huashan Capital, with participation from seed investors. The fintech startup will also use the new funding to accelerate digital banking product development, talent recruitment, and market expansion.

EasyEuro has closed its Pre-a financing round raising tens of millions of yuan. The round was led by Ally Capital and Huashan Capital, with participation from seed investors. The fintech startup will also use the new funding to accelerate digital banking product development, talent recruitment, and market expansion.

Founded in November 2017, EasyEuro is a French mobile payment service provider. It mainly provides online and offline payment and tax refund solutions for European merchants. It takes POS as the entrance, supplemented by aggregate payment tools, supporting payment methods such as WeChatPay, Alipay, UnionPay , VISA, MASTERCAR and other payment methods. Consumers can get the printed tax refund form immediately after shopping, realizing real-time tax refund.

In 2018, the company completed an angel funding round from SwiftPass, Geoswift, Huashan Capital and Unity Assets.

In terms of the profit model, EasyEuro mainly collects handling fees from customer transactions and obtains profits from the difference between foreign currencies to achieve revenue. In addition to corporate clients, EasyEuro also provides API interfaces for licensed institutions in China, such as Geoswift and PayEco, and charges them.

Ryan Li, EasyEuro founder and CEO, introduced that to date, the company has more than 1,000 clients which are mainly European companies. Its well-known clients include L’Occitane, La Perla, Vichy and more.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/12/fintech-start-up-easyeuro-raises-tens-of-millions-of-yuan-in-pre-a-financing-round/.

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