Zing
“Can HSBC build a standalone consumer fintech brand that competes with Wise and Revolut for international money movement without being constrained by the parent bank's infrastructure?”
Founded2023
HQLondon, UK
Latest roundSeries A, June 2024
IndustryFintech / Cross-border payments
The story
Zing was launched by HSBC Group as a distinct international payments and multi-currency app targeting UK consumers with international money needs. Rather than operating under the HSBC brand, the product was spun out as a standalone fintech app leveraging Visa's technology for card issuance and FX rails. The product positions itself as a direct competitor to Wise and Revolut, focused on multi-currency wallets, international transfers, and broad geographical reach.
Last 12 months
Product timeline
2023
HSBC launched Zing as a standalone international money app in the UK, enabling users to hold funds in 20+ currencies and transact in 200+ countries.· pivot
2024
Zing partnered with Checkout.com to expand digital payment methods acceptance.· banking
2024
Zing raised a Series A funding round led by Zubr Capital and TriplePoint Capital.· ipo
The stack
Accounting gap: none