The new expansion into Hong Kong is SoFi’s first foray into international markets; SoFi Invest will allow investors access to...
TNG FinTech Group Inc. is close to closing a Series A funding deal that will add $60 million in new capital for the firm and bring its valuation to $500 million; the firm offers global money transfers, foreign-exchange transactions and bill payments; following the funding round it will be one of the highest valued fintechs in Hong Kong; it plans to use the funding to expand its business internationally through acquisition of companies with remittance licenses in Singapore, Japan, the Philippines, Indonesia and the UK. Source
Monexo plans to hire 30 to 40 people in a new office in Salt Lake Sector V; company plans to first start with personal loans and has already tied up with CIBIL for credit scores of borrowers; according to Monexo, good borrowers will receive a rate as low as 13%; Monexo has been in operation for 18 months and has offices in Bengaluru and Chennai. Source
Hong Kong financial regulator, the Securities and Futures Commission (SFC), has announced that tokens issued via initial coin offerings (ICOs) may be classified as securities; the classification may extend beyond ICOs into digital asset exchanges dealing in the tokens. Source
The CEO of DBS Group Holdings in Singapore believes that Singapore may follow Hong Kong in offering virtual banking licenses;...
Dianrong is a Chinese online lender run by one of the co-founders of Lending Club, Soul Htite; the company is planning an IPO in Hong Kong and could raise $500 million next year. Source
Lufax has reportedly hired five banks to work on a Hong Kong IPO which could raise as much as $5 billion; SoftBank’s vision fund is also in talks to invest in the company according to sources; Lufax is the 10th largest unicorn and has delayed IPO plans over the past few years. Source
The leading Chinese online insurance company, ZhongAn Online Property & Casualty Insurance Co, started trading on the Hong Kong stock...
China and Hong Kong have raised $3.03 billion in proptech since 2013; this is approximately 41% of the total investment in proptech across the globe; the startups are focused on brokerage and leasing, investment and financing, project development and property management; half of the startups are in brokerage and leasing; article shares what has led to the current robust proptech market in Asia Pacific. Source
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