TC006431)
23502324756 & consecutive Form ND2B 23402440430/23402440431)
16-11-02003), historical Money Lenders Register records, and card network principal membership disclosures for institutional KYB due diligence.
While general-purpose FinTech platforms such as Airwallex and PingPong initially scaled through e-commerce marketplace collection, SUNRATE—founded in 2016—carved out a specialized institutional moat across B2B general trade settlement, Online Travel Agency (OTA) Virtual Commercial Card (VCC) wholesale clearing, and multi-bank TreasuryOS management.
Cross-referencing the Hong Kong Companies Registry and Customs MSO Register via 86hc.com, SUNRATE's licensed Hong Kong contracting entity is Sunrate Solutions Limited (CR No. 2437623, BRN 66771429), incorporated on 13 October 2016 and operating from Room 11114, 11/F, YF Life Tower, 33 Lockhart Road, Wan Chai, Hong Kong under Customs MSO Licence No. 16-11-02003[1][2]. This dossier examines its Peak XV / Prosperity7 / SoftBank Ventures Asia institutional backing, dual Visa & Mastercard Principal Membership, historical Money Lenders licence evolution, and 26 official ICRIS filings.
1. Statutory Entity Verification: Sunrate Solutions Limited (CR: 2437623) & Wan Chai YF Life Tower Hub
When corporate treasurers or travel wholesalers execute master service agreements with SUNRATE in Asia-Pacific, verifying the underlying Hong Kong statutory vehicle is essential. Since its founding in October 2016, Sunrate Solutions Limited has maintained 100% alignment between its Companies Registry registered office and its Customs-inspected MSO premises[1][2]:
| Statutory Dimension | Official Hong Kong Registry Record | Institutional Audit & Cross-Verification Notes |
|---|---|---|
| Statutory English Name | Sunrate Solutions Limited (English Name Only; Commercial Brand: SUNRATE) | Incorporated under the Companies Ordinance (Cap. 622) on 13 Oct 2016 with no historical name changes. |
| CR No. & BRN | CR No.: 2437623BRN: 66771429 | Statutory status is Live, with uninterrupted Annual Return (Form NAR1) and Business Registration Certificate (BRC) renewals. |
| Registered Office & MSO Premises | ROOM 11114, 11/F, YF LIFE TOWER, 33 LOCKHART ROAD, WAN CHAI, HONG KONG | Via the 86hc.com Commercial Building Intelligence System, European acquiring giant Adyen Hong Kong Limited (CR: 1807938, MSO: 19-08-02849) is located one floor below at Room 10102, 10/F. |
| Active Regulatory Licence | HK Customs Money Service Operator (MSO) Licence No.: 16-11-02003 | Granted in November 2016 (within one month of incorporation) and continuously renewed under Cap. 615 AMLO supervision. |
| Historical Licence Record | Money Lenders Licence Record (Status: Expired) | Previously held a Money Lenders licence during its early supply-chain credit phase before focusing on Visa/Mastercard Principal Member card issuing and TreasuryOS. |
| Judicial & Winding-Up Check | 0 Winding-Up Petitions (wu=0) · 1 historical miscellaneous civil record (o=1) | Verified via the HK Court Litigation Search System with zero insolvency or winding-up risk. |
2. Founding DNA & Institutional Backing: From Citibank FX Desks to Peak XV & Prosperity7 (Aramco)
Co-founded in 2016 by Paul Meng and Joshua Bao, SUNRATE's executive leadership draws heavily from global commercial banking FX trading, derivatives, and corporate treasury desks at Citibank, Standard Chartered, and J.P. Morgan[4]. Operating dual regional headquarters in Singapore and Hong Kong (Sunrate Solutions Limited), the group has raised through Series D and Series D-2 rounds (2023–2024) from premier global investors:
- Peak XV Partners (formerly Sequoia Capital India & SEA): Led the Series D round, accelerating SUNRATE's B2B clearing footprint across Indonesia, Vietnam, Thailand, the Philippines, Singapore, and India;
- Prosperity7 Ventures (the diversified growth fund of Aramco Ventures): Led the Series D-2 round, establishing direct local-currency clearing corridors between Middle Eastern Gulf economies (Saudi Arabia, UAE) and Asian manufacturing supply chains;
- SoftBank Ventures Asia (now SBVA): Multi-round institutional lead investor backing the development of SUNRATE's enterprise TreasuryOS platform;
- Redpoint China Ventures, Matrix Partners & JAFCO Asia: Early institutional backers supporting its transition into a global card network Principal Member.
3. Architecture Deep Dive: Why OTAs & B2B Exporters Use SUNRATE VCCs & TreasuryOS
Why do online travel agencies (OTAs), IATA-accredited ticketing consolidators, hotel bedbanks, and B2B exporters onboard with Sunrate Solutions Limited alongside traditional commercial banks? The answer lies in three specialized product pillars[3][4]:
Visa & Mastercard Principal Member in Hong Kong: 15+ Currency Native-Settlement Virtual Commercial Cards (VCC)
When travel wholesalers settle bookings with global airlines (via GDS), international hotel chains, or platforms like Agoda, Booking.com, and Expedia, traditional SWIFT wires are slow and impossible to reconcile at the booking level. As a Principal Member of both Visa and Mastercard certified to PCI DSS Level 1, Sunrate Solutions Limited enables enterprises to generate thousands of Single-Use or Multi-Use Virtual Commercial Cards (VCCs) via API with native billing and settlement in 15+ currencies (USD, EUR, GBP, HKD, SGD, JPY, AUD, CHF, THB, etc.)—eliminating 1.5%–2% cross-border card conversion fees while enforcing granular per-card spending limits and MCC controls.
B2B Emerging Market Local Currency Collection (IDR, THB, MYR, PHP, VND, MXN, NGN)
Partnering with Tier-1 clearing banks including DBS, J.P. Morgan, and Citibank, SUNRATE provides Hong Kong trading companies with named local collection accounts across Southeast Asia, Latin America, and Africa. Overseas buyers pay in local currency via domestic clearing rails, while exporters convert into USD, HKD, or CNH at wholesale FX rates.
Enterprise TreasuryOS & Forward FX Hedging
SUNRATE's TreasuryOS aggregates multi-bank cash positions via SWIFT MT940 and API connections while offering Spot FX, Forward FX contracts (up to 12 months), and Window Forwards so CFOs can lock in gross margins against currency volatility.
4. ICRIS Statutory Dossier Audit: 26 Official Filings & 2024–2025 Consecutive Barcodes
According to 86hc.com's real-time synchronization with the Hong Kong Companies Registry, Sunrate Solutions Limited (CR No. 2437623) has filed 26 statutory documents since October 2016. Below are the 8 most recent filings from 2024–2025[1]:
| Filing Date | Form Code | Statutory Document Title & Governance Significance | ICRIS Barcode | Pages / Link |
|---|---|---|---|---|
| 2025-10-14 | Form NAR1 | Annual Return 2025 (Form NAR1) 9th anniversary statutory return disclosing latest issued share capital, parent shareholding, and active directors. | 23502324756 | 11p · Inspect |
| 2025-10-14 | Form ND2B(Consecutive #1) | Notice of Change of Company Secretary and Director Details (Form ND2B) Filed on the same day as the 2025 Form NAR1 to update statutory particulars of officers. | 23402440430 | 3p · Inspect |
| 2025-10-14 | Form ND2B(Consecutive #2) | Notice of Change of Company Secretary and Director Details (Consecutive Barcode to 23402440430)Demonstrates synchronized corporate secretarial maintenance across multiple officers. | 23402440431 | 3p · Inspect |
| 2025-05-30 | Form ND2A | Notice of Change of Company Secretary and Director (Appointment/Cessation) Records mid-2025 board or company secretary appointment/cessation (see Form ND2A Guide). | 22202917409 | 3p · Inspect |
| 2025-05-30 | Form ND4 | Notice of Resignation of Company Secretary and Director (Consecutive to 22202917409) | 22202917410 | 2p · Inspect |
| 2025-02-17 | Form ND2B | Notice of Change of Company Secretary and Director Details (Form ND2B) | 23102367843 | 3p · Inspect |
| 2024-11-07 | AMEND | Typographical or Clerical Amendment to Registered Document Proactive statutory rectification under Section 42 of Cap. 622. | 23002426159 | 3p · Inspect |
| 2024-10-14 | Form ND2B | Notice of Change of Company Secretary and Director Details (Form ND2B) | 22902903739 | 3p · Inspect |
5. Compliance Playbook: Why Does SUNRATE Enforce Strict Corporate KYB Onboarding?
Because Sunrate Solutions Limited operates under Hong Kong Customs MSO supervision (Cap. 615 AMLO, Licence 16-11-02003) and Visa/Mastercard Principal Member underwriting standards, corporate applicants must prepare a complete statutory KYB package comparable to HSBC HK or OCBC HK[2]:
- Cap. 622 & Cap. 310 Statutory Documents: Certificate of Incorporation (
CI), valid Business Registration Certificate (BRC), Incorporation Form (FormNNC1) for companies under 1 year old, or the latest Annual Return (FormNAR1) for companies over 1 year old; - 25% Ultimate Beneficial Owner (UBO / SCR) Penetration: Full identity and residential address verification for all directors and natural persons holding 25% or more of shares or voting rights;
- Four-Stream Trade Documentation for B2B Inflows: Every large B2B trade collection must be backed by matching Sales Contracts / Proforma Invoices (PI), Commercial Invoices, Packing Lists, and Bills of Lading (B/L) or customs declarations.
6. Frequently Asked Questions (FAQ) on Sunrate Solutions Limited
Q1: What is SUNRATE's licensed legal entity name, CR number, and MSO licence number in Hong Kong?
SUNRATE operates in Hong Kong through Sunrate Solutions Limited, incorporated on 13 October 2016 with Company Number (CR No.) 2437623 and Business Registration Number (BRN) 66771429. Its registered office and MSO premises are at Room 11114, 11/F, YF Life Tower, 33 Lockhart Road, Wan Chai, Hong Kong, holding HK Customs MSO Licence No. 16-11-02003.
Q2: Why does Sunrate Solutions Limited show a historical expired Money Lenders licence record?
During its early exploration of supply-chain trade credit, Sunrate Solutions Limited held a Hong Kong Money Lenders licence. As the group focused its core strategy on Visa/Mastercard Principal Member Virtual Commercial Card (VCC) issuing, B2B cross-border payments, and TreasuryOS, it allowed the Money Lenders licence to expire naturally while maintaining its active Customs MSO Licence (16-11-02003).
Q3: How do SUNRATE Virtual Commercial Cards (VCCs) benefit OTA travel agencies and B2B enterprises?
As a Principal Member of Visa and Mastercard in Hong Kong, SUNRATE issues single-use and multi-use VCCs via API supporting native settlement in 15+ currencies (USD, EUR, GBP, HKD, SGD, JPY, AUD, etc.), eliminating cross-currency conversion markups and automating per-booking reconciliation for airlines, hotels, and digital ad spend.
7. Official Registry & Regulatory Citations
- Hong Kong Companies Registry (ICRIS): Statutory Register & 26 Filing Dossiers of Sunrate Solutions Limited (CR No.
2437623, BRN66771429, including 2025 Form NAR1 Barcode23502324756, consecutive Form ND2B Barcodes23402440430&23402440431, Form ND2A22202917409, and Form ND422202917410). Official portal: www.e-services.cr.gov.hk ↗. - Hong Kong Customs and Excise Department (Money Service Supervision Bureau): Register of Money Service Operators under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) —
SUNRATE SOLUTIONS LIMITED, Licence No.16-11-02003. Official portal: HK Customs MSO Register ↗. - Global Regulatory & Card Network Registers: Monetary Authority of Singapore (MAS) Major Payment Institution Register, UK FCA Electronic Money Institution Register, Bank Indonesia, and Visa / Mastercard Principal Member Directories.
- SUNRATE Official Disclosures: Series D & Series D-2 Financing Announcements (Peak XV Partners, Prosperity7 Ventures, SoftBank Ventures Asia) & Product Documentation: www.sunrate.com ↗.