TNG FinTech Group, a Hong Kong-based financial technology company, completed its Series A round of funding, raising US$115 million at a post-transaction valuation of US$565 million.
The round was led by New Margin Capital, with participation from Nogle Group, and Infinity-KBR Group.
The investment will support the company’s global expansion strategy, to fund new acquisitions and to invest in Blockchain Technology, Artificial Intelligence (AI), ChatBot and e-KYC platform.
Led by Mr. Alex Kong, Chairman and CEO, TNG FinTech Group provides financial services through its e-wallet platform featuring such functions as electronic payment, person-to-person (P2) money transfer, global remittance, global cash withdrawal, and so on.
Its Global E-Wallet Alliance covers Hong Kong and 12 countries, including China, the Philippines, Indonesia, Singapore, Malaysia, Thailand, Vietnam, India, Sri Lanka, Bangladesh, Nepal and Pakistan.
TNG Wallet secured the Stored Value Facilities Licence from the Hong Kong Monetary Authority in 2016.