Latest fundraising brings fintech brokerage a valuation of US$1.06 billion

Tiger Brokers, an online securities brokerage backed by Wall Street billionaire investor Jim Rogers, said its latest fundraising round had valued it in excess of US$1 billion, making it the latest start-up to join China’s booming club of unicorns. The company successfully closed a US$80 million Series C financing, bringing the company’s valuation to US$1.06 billion The latest round was a co-investment led by Prospect Avenue Capital (PAC), Orient Hontai Capital and Oceanpine Capital. Tiger Brokers offers an app that allows Chinese investors, including ethnic Chinese stationed outside mainland China, to trade US stocks, Hong Kong-listed stocks and China A shares via the stock connect scheme between Hong Kong and mainland bourses. The newly-raised capital will be used to boost research and development as well as investment in new talent. The company also aims to accelerate its development of an all-in-one global asset allocation platform.

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