Video: Why VCs Should Take a Look at Taiwan’s CherryPay
Andrew Work from NexChange talks to Kate Wu and Tom Tang, respectively the CMO and CEO of CherryPay, at Startupbootcamp in Hong Kong 2017.
CherryPay was founded in October, 2016 and allows users to transfer money to friends and family or pay daily expenses with just a few clicks.
NEXCHANGE: Hi, I’m Andrew Work from NexChange and we’re at the Startupbootcamp in Hong Kong, one of the four stops on their four city Asian tour where they are presenting their portfolio companies and I have the people behind CherryPay here with me now. I’ve got Kate, the CMO. Hi Kate.
KATE WU: Hi, nice to meet you guys.
NEXCHANGE: And I’ve got Tom, the CEO.
TOM TANG: Hi.
NEXCHANGE: Very good. So we’re here and the first thing I want to find out is what is CherryPay doing and who are your typical customers? Kate.
KATE WU: So CherryPay is an international P2P money transfer matching platform. Our typical customers include like foreign workers, you can think of travelers, importer exporters and they also like online shoppers.
NEXCHANGE: So there’s some B2C like the foreign domestic workers and travelers but then also B2B when you talk about import/export companies, right. So you guys have customers, you have traction in the market yes?
KATE WU: Yes of course. So on from last October till this May we already have more than 10 million USD of transaction volume.
NEXCHANGE: Fantastic. Good for you. And now you want to grow the company, you’re here pitching investors today because you want to get some investment and use that to grow. What do you want to do with the investment money?
KATE WU: So basically it’s for a global compliance and second is for international marketing.
NEXCHANGE: Sounds good. So I have the people behind CherryPay here, Tom and Kate. Thank you for coming to Hong Kong. They’re from Taiwan, they’re with the Startupbootcamp experience, and they’re from CherryPay and I’m Andrew Work from NexChange. Thank you very much.