Neobank startup iPeakoin raises nearly $10m Series A from Zhenfund

By Gloria Mathias

iPeakoin, a neobank building solutions across traditional finance and crypto, has closed its Series A funding round, with close to $10 million led by ZhenFund.

Founded in 2020, with dual headquarters in Singapore and Hong Kong, iPeakoin has distinguished itself in the FinTech landscape by bridging traditional finance and the crypto industry.

iPeakoin’s product suite is comprehensive, catering to a diverse range of clients from traditional industries such as advertising and gaming to global trade and Web 3.0 projects.

iPeakoin plays a crucial role in mainstream crypto adoption, addressing the demand for a banking platform that can manage both crypto payments and traditional financial services. Its ecosystem narrows the gap between traditional and digital finance, helping businesses streamline payment flows and access new market shares.

Michael Wu, the Founder and CEO of iPeakoin, highlights the importance of crypto in cross-border corporate transactions, emphasising its role in business operations over investment opportunities. He notes that a significant number of multinational corporations are utilising crypto for business purposes.

“We see more and more companies in traditional industries adopting crypto for various reasons, especially those operating in countries with an unstable economic environment and volatile currency exchange rates,” according to Robert Feng, the VP of Sales and Strategy. “It’s also a good sign to see regulators formulating relevant policies so that cooperates and service providers like us know how we move forward in a compliant manner.”

iPeakoin is also investing heavily to build up banking infrastructure across multiple continents, including the Middle East, Latin America, and India. “We are frequently asked by our clients if we can help them in this or that country, so we have to move at lightning speed to build up local capabilities by working with local banks or payment providers,” said Michael.

Rommy Song, iPeakoin’s co-founder and Head of Product, shared, “We aim to develop an innovative product that enables new businesses and new markets to foster their growth. By effectively combining traditional financial infrastructure with blockchain technology, we can offer more efficient solutions that align with the evolving demands of the new business landscape.”