SUNRATE
Breaking the Barrier to B2B Payments

Compared to Business-to-Consumer (B2C) payment technology, electronic B2B payments have significantly lagged in adoption across industries for years. One area of payments that is growing fast yet remains largely untapped is cross-border B2B trade. With an aim to help small and medium enterprises, importers, and exporters embrace this trend and succeed, Asia-based SUNRATE empowers them with its suite of cross-border payment solutions, which include international payment, corporate card issuance, global collection, risk and treasury management SaaS platform, as well as banking-as-a-service.

“We enable clients to trade globally while improving their business efficiency as well as keeping the cost at a minimal level,” says Joshua Bao, Co-Founder of SUNRATE. At SUNRATE, small and medium businesses get access to lower transaction costs and better exchange rates by leveraging both the international and local settlement networks. The company’s smart routing system automatically matches clients’ payments with efficient clearing pathways for fast and cost-effective transactions. In this way, the fund arrival time is reduced from a few days to the same day (T+0).

Instead of a prolonged settlement period, clients are able to pay their out-of-country suppliers and vendors way faster, with little to no friction points. Clients can also manage their documents or even track their payments via SUNRATE’s solution, which is a part of the company’s effort in helping organizations to digitize payment processes.

SUNRATE also issues corporate cards in volume and in real time where users can define the card credit limit and maturity with multi-currency payment support.

Not only are SUNRATE’s products in line with its clients’ business needs, but the company also invests its resources in product innovation to ensure its offerings are diversified for clients across e-commerce (offline or traditional B2B) and even the travel and hospitality industry. The company has partnered with Standard Chartered Bank China and other financial institutions to offer banking as-a-service and design innovative payment solutions.

“Our total payment volume and revenue both increased by over 2.5 times in 2021, all thanks to our experience in understanding the payment’s landscape, local regulations and potential competitors which have significant differences from other markets,” notes Bao. Recently, SUNRATE closed Series C round financing, led by SoftBank Ventures Asia, and joined by new investors Banyan Pacific Capital (BPC), TDF Impact Investment as well as previous investors Redpoint China, JAFCO Asia, China Growth Capital and K2VC.

By blending a solution-based approach and a deep understanding of the B2B finance landscape, SUNRATE prides itself on providing products that offer high flexibility. Steering ahead, the company will continue to empower its clients with the best possible solutions for global business development by co-operating with large clearing banks, commercial banks, and card schemes while continuing to innovate payment solutions to suit their business needs.

With such robust capabilities, SUNRATE partnered with Trustana, a B2B trade platform, to provide settlement services for Asia Pacific’s food trade industry last year. With the agri-food sector contributing $717 Billion to economies across Southeast Asia coupled with developments in the B2B trade space, there was a clear opportunity for SUNRATE and Trustana to come together to deliver a solution for Trustana’s customers. This partnership will increase the speed with which a range of food products can be made available in Asian markets. Trustana’s customers, buyers, and suppliers will also gain access to services, including live FX rates and fast payment processing.

Today, SUNRATE’s payment network covers transfers of over 100 currencies across 130+ countries. Most importantly, the company keeps strict regulatory compliance in check, both locally and overseas. SUNRATE has garnered licenses from the regulatory bodies across major economies in the world, including Hong Kong, Singapore, Indonesia, the UK, the U.S., Canada, and Australia.