Online Payment Solutions for SMEs

Statrys caters to entrepreneurs by offering them reliable, economical and transparent online payment solutions.

Conducting business is never easy. Many startups and small and medium enterprises (SMEs) find that making payments and handling currency exchange often sap time, budget and manpower. Statrys addresses their unique concern with products and services that humanise payments, emphasise transparency and tailor the customer service experience.

Catering to Entrepreneurs

“We identified there is a gap that banks do not address some of the entrepreneurs’ needs — this translated into an opportunity for us,” said Statrys’ founder Bertrand Theaud. “When we launched Statrys, it was a tipping point where entrepreneurs were more aware of FinTech’s reliability compared to traditional banking means.”

With Hong Kong as its headquarters, Statrys offers a multi-currency business account in 11 major currencies, super charged with a robust payment platform. Further, Statrys provides foreign exchange services and localised accounts for single currencies like the Euro. “We were able to raise US$5 million in November 2020, which accelerated our growth,” Theaud revealed.

In comparison to Europe, Theaud feels that Asia is an untapped market for payment FinTech companies. “Hong Kong provides the perfect home base for reaching businesses in Asia.” he stated. “It is no secret that Hong Kong is one of the easiest places to open a company quickly. When Statrys products launch globally, Hong Kong’s internationality comes into play. It is a very slick process to go from domestic to international audiences using Hong Kong’s financial channels, not to mention the immense government support for the industry.”

Gateway to Mainland China and Southeast Asia

Theaud is optimistic about Hong Kong’s strategic location on the doorstep to Mainland China. “Hong Kong acts as a critical transportation hub, especially in the Belt and Road initiative which further connects Mainland China with its Southeast Asian neighbours,” he noted. “As interaction between the two regions will likely increase, the volume of payment will also increase. As such, we recognised an opportunity to develop and acquire licenses in these specific regions.” He remarked that Statrys is currently applying for payment licenses in Singapore, Thailand, Malaysia and Indonesia.

Theaud’s optimism extends to the city’s young FinTech talent. “FinTech development, like most other growing businesses, relies on people. Talent is one of the biggest differentiating factors that give FinTech companies the edge they need to disrupt financial institutions that are nearly a century old. There is no short supply of this talent in Hong Kong,” he said.

When Statrys set up their Hong Kong headquarters, InvestHK provided insights about Hong Kong’s ecosystem, rules and regulations, and needs for banking and also introduced businesses and networking opportunities to the company. “The team is a helpful boost when you start a business and trust is key,” he said.

As Statrys launched in January 2020 immediately before the outbreak of COVID-19, the company had to shift gears and focus on strong product communication. Yet there is a silver lining. “Being a 100 percent online platform, Statrys was able to fill the gap when it came to entrepreneurs’ needs,” stated Theaud. “With easy access to the rest of Asia, Hong Kong is handy for expanding our business in the Asia Pacific region.”