Funding
24 Fintech Startups Among Semi-Finalists in HKSTP’s Pitching Competition
The Hong Kong Science and Technology Parks Corporation (HKSTP) announced the selection of 74 leading startups to compete in the final round of the eighth annual Elevator Pitch Competition 2024 (EPiC 2024). Among these, 24 fintech startups from seven countries
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MUFG Bank Acquires 15.55% Stake in Robo-Advisor WealthNavi for US$104M
MUFG Bank, a subsidiary of Mitsubishi UFJ Financial Group, has acquired a 15.55% stake in robo-advisor WealthNavi for approximately 15.65 billion yen (104.15 million), marking a strategic move to bolster its digital financial services. This capital and business alliance aims
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Qupital Secures Series B2 Financing for E-commerce Loans Portfolio
Qupital, an Asian data-driven financing platform for SMEs, has secured its Series B2 financing round The funding, contributed by investors from Hong Kong and Southeast Asia, is intended to expand its securitisation facility with Citi, supporting its e-commerce loan portfolio.
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Hong Kong Fintech FundPark Secures US$500 Million Funding Facility from Goldman Sachs
FundPark, a fintech startup focusing on trade finance for small and medium enterprises (SMEs), has obtained a US$500 million (HK$3.9 billion) funding facility from Goldman Sachs. This marks the second funding initiative between FundPark and the investment bank, doubling the
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Dubai Insurance Invests in OneDegree for Digital Asset Insurance Partnership
Hong Kong’s insurtech OneDegree has secured an investment from the Dubai Insurance Company for its Series B funding round as part of a partnership to offer digital asset insurance in the United Arab Emirates (UAE). The sum was not disclosed.
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Klook Raises US$210 Million, Aims to Reinforce AI Integration
Travel and leisure booking platform Klook has closed a US$210 million (HK$1.6 billion) financing round. This capital injection will support product development, particularly in expanding city pass options, and bolster marketing initiatives via the Klook Kreator programme. In partnership with
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BGX to Acquire 30% Stake in OSL’s BC Group with HK$710 Million Investment
BC Technology Group, the parent company of digital asset platform OSL licensed by Hong Kong’s Securities and Futures Commission, has secured an investment of approximately HK$710 million from BGX. The deal, which hinges on the approval of BC Group’s shareholders,
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OneDegree Makes Its First Investment in Thai SaaS Insurtech Eazy Digital
Hong Kong’s insurtech OneDegree Global has made its first external investment in Eazy Digital, a Bangkok-based SaaS platform for insurance companies and brokers. The sum was not disclosed. The investment is said to be a part of a strategic partnership
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Saudi Arabia’s NEOM to Invest US$50 Million in Animoca Brands
Metaverse ecosystem builder Animoca Brands and Saudi Arabia’s NEOM Company have announced a strategic partnership to drive Web3.0 development in the region. NEOM is a special economic zone in the north west of the Kingdom of Saudi Arabia with more
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MUFG Launches Debt Fund for Japanese Investors to Lend to Overseas Startups
MUFG’s subsidiaries have established a debt fund framework for Japanese institutional investors to provide loans to overseas startups. The two subsidiaries are MUFG Bank and Mitsubishi UFJ Trust and Banking Corporation (MUTB). Japanese institutional investors will be able to participate
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