Global Payments and Treasury Management Platform SUNRATE Raises Funding from Sequoia Capital

SUNRATE, a Singapore-based intelligent global payment and treasury management platform, announced July 27 that it has raised an additional Series D (Series D-2) funding round from Sequoia Capital Southeast Asia (now Peak XV Partners).

SUNRATE said in a statement that Prosperity7 Ventures and Softbank Ventures Asia also contributed to the round.

According to the statement, the funding will allow SUNRATE to accelerate its global expansion plans by driving innovative technology development, deepen cutting-edge products and services, hire top industry talent, and explore additional strategic opportunities.

SUNRATE plans to use the funds raised in this round to accelerate growth in emerging markets such as Southeast Asia and India, as well as to continue onboarding new customers globally. To match its overall global growth trajectory, the company will continue to bring in top talent.

"We started SUNRATE with the modest goal of improving the payments experience of small to medium-sized businesses (SMBs)." "Through the years, we have witnessed first-hand how our products and services have benefited businesses; by providing fast secure transactions, high-touch customer service, as well as lower and transparent costs," said Paul Meng, Co-Founder at SUNRATE.