Qbit

Qbit (趣比汇) is a neobank founded in 2019 by serial entrepreneur Michael Wu (吴羽君), offering one-stop overseas fund management for Chinese companies going global — its core products include the "Qbit Card" virtual card, global multi-currency accounts, global acquiring, and Open API, with tailored solutions for ad-tech, cross-border e-commerce, and game publishers. The founding idea traces back to Wu's own frustration in 2019 with the cumbersome, costly process of converting RMB through banks. Per a FreeS Fund piece, by late 2024 the platform covered over 180 countries and 40-plus currencies, with cumulative transaction volume above $6 billion, 4.88 million cards issued, and more than 40,000 brand clients served. Its funding trajectory runs through a near-$10 million Series A from ZhenFund in 2021 and a $10 million B1 round announced in late 2024, with FreeS Fund among its early backers.