XTransfer
“Can a China-rooted compliance-first cross-border PSP become the global financial OS for SME export trade?”
Founded2017
HQShanghai, China
FoundersBill Deng (Deng Guobiao)
Total raised$168M
IndustryFintech / Cross-border payments
The story
Founded in 2017 by ex-Alibaba/Ant Group executives, XTransfer focused from day one on a single market gap: Chinese SME exporters who could not get serviced by traditional correspondent banking. The company built a compliance and risk-management layer on top of partner banks (JP Morgan, Deutsche Bank, DBS, Bank of China) and embedded FX providers (Currencycloud/Visa) to deliver multi-currency collection accounts globally. Rather than pivoting, XTransfer has methodically layered jurisdictions (HK → UK/EU → US/Canada/AU/SG) and is now positioning for a Hong Kong IPO as the world's largest B2B cross-border trade payment platform by TPV.
Last 12 months
Product timeline
2017
Founded in Shanghai by six former Alibaba/Ant Group employees to serve SME cross-border B2B payments.· founding
2020
Partnered with Currencycloud (now Visa Cross-Border Solutions) for local collection across Canada, Europe, US.· partnership
2025
Surpassed US$60 billion in annual TPV; reached ~897,000 registered SME customers across 200+ markets.· growth
2026
Filed prospectus with Hong Kong Stock Exchange for main board IPO listing.· ipo
Regulated entities
MTL (Money Transmitter License)
US (multiple states incl. Alaska, Arizona, Arkansas, Colorado)
XTransfer Inc.
Payment License
Hong Kong
XTransfer Limited
Payment License
UK
XTransfer
Payment License
Canada
XTransfer
Payment License
Netherlands
XTransfer
Payment License
Australia
XTransfer
Payment License
Singapore
XTransfer
The stack
Payments / PSP
Banking / BaaS
FX & payouts
Accounting gap: significant