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Hong Kong fintech startup TNG raises US$115M to invest in blockchain, AI, chatbots and more - e27

Published 2 years ago

Hong Kong fintech startup TNG raises US$115M to invest in blockchain, AI, chatbots and more - e27

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Hong Kong fintech startup TNG has raised US$115 million in Series A round led by New Margin Capital, a major Chinese private equity fund which has invested over US$1.7 billion in more than 160 companies, with 40 IPO exits. TNG will use the new funding to ramp up its reach into global markets such as the UK, fund new acquisitions and invest in new technologies such as blockchain, AI, chatbot and e-KYC platform. Also Read: How Thai e-wallet startup T2P is going to help Myanmar go cashless In November 2015, its launched its e-wallet TNG wallet. To date, TNG Wallet has logged over 600,000 app downloads and US$80 million worth of monthly transactions — making it one of the largest e-wallet providers in Hong Kong. Last year, TNG Wallet was one of the participants of last year’s FinTech Innovation Lab Asia-Pacific, an accelerator programme supported by Hong Kong-based tech business park Cyberport. With leading technology and an innovative business model, TNG Wallet has developed rapidly to become a showcase for FinTech in Hong Kong. This makes us especially proud and reaffirms our mission of fostering and nurturing Hong Kong’s innovative technology leaders,” said Dr. George Lam, Chairman of the Board at Hong Kong Cyberport Management Company Limited, in an official press release. TNG Wallet is also part of a consortium of e-wallets called Global E-Wallet Alliance, which covers Hong Kong and 12 countries, including China, the Philippines, Indonesia, Singapore, Malaysia, Thailand, Vietnam, India, Sri Lanka, Bangladesh, Nepal and Pakistan. Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Read in Full

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