USEUROPEAFRICAASIA 中文双语Français
Business
Home / Business / Companies

Fund-rich online brokerage thinks big

By Duan Ting | China Daily | Updated: 2017-07-15 07:08

Fund-rich online brokerage thinks big

Wu Tianhua, chief executive of Tiger Brokers delivers a speech at the Rise 2017 conference on July 11, 2017 in Hong Kong. [Photo provided to China Daily]

Startup Tiger Brokers, an online stock brokerage, has said it will use its latest round of financing to bolster its technical strength and products.

Speaking at the Rise 2017 conference in Hong Kong, its CEO Wu Tianhua said the new investors are guiding Tiger Brokers on content, internationalization and functional autonomy.

The firm will host a global investment forum in the next two to three months. The next round of fundraising will probably be within the next 12 months, he said.

Founded in June 2014, Tiger Brokers has so far received over $400 million in funding from more than 20 strategic investors such as Xiaomi, Zhenfund, China Growth Capital and celebrated Wall Street investment guru Jim Rogers (who is betting big on China's financial technology or fintech sector).

Wu said Tiger's younger investors in US stocks favor the TMT (technology, media and telecommunications) sector and are willing to take risks in their global asset allocations.

Emerging new-age tech companies seek to list in the US, suggesting a fresh bull run may be in the making there.

However, in China, investment allocations in the Chinese mainland are still relatively niche. But the situation will improve with growth in the local TMT sector, Wu said.

Online brokerages such as Tiger use technology to tackle challenges relating to cross-border stock trading, account opening and language.

Currently, online trading in US stocks accounts for a major part compared to trading in Hong Kong stocks and the A shares, he said.

Most Viewed in 24 Hours
BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US