Qbit provides a digital banking platform that enables SMEs to manage cross-border payments and multi-currency accounts through a single dashboard. The solution streamlines global transactions, enhances cash management, and offers automated expense reporting, addressing the complexities of international financial operations.
Funding
Funding not disclosed
Founders
Product
Problem
Small and medium-sized enterprises (SMEs) face challenges in managing international financial operations due to the complexities of cross-border payments, multi-currency accounts, and expense reporting. Traditional banking systems often lack the integrated tools needed for efficient global cash management, leading to increased costs and administrative burdens.
Solution
Qbit provides a digital banking platform designed to streamline global transactions and enhance cash management for SMEs. The platform offers multi-currency accounts in over 14 currencies, enabling businesses to receive global transactions quickly and efficiently. Qbit simplifies the payment process with documented transaction details for reconciliation and provides automated expense reports to save time and costs. The platform also offers virtual cards with customizable controls and real-time insights into business spending, allowing finance teams to monitor transactions by cardholder, department, or purpose.
Target Audience
Qbit primarily targets tech-forward SMEs and online travel agencies (OTAs) engaged in cross-border business, digital marketing, and e-commerce that require efficient global cash management and payment solutions.
Features
- Multi-currency global accounts to send and receive payments in 180+ countries and regions
- Virtual Qbit Quantum Cards for online and offline payments with customizable spending limits and real-time control
- Automated expense reporting and transaction categorization
- Integration with platforms like Shopify and PayPal for automatic order synchronization
- Customizable role-based workflows to improve information security and teamwork efficiency
- Supply chain finance options with online applications and unsecured loans
- Real-time transaction monitoring and alerts
- API for BaaS (Banking-as-a-Service) and CaaS (Card-as-a-Service) integrations