Micro Connect, a Hong Kong-based exchange group that leverages financial technology to connect global capital with China’s micro and small businesses, raised US$458m in Series C funding.
Backers included a diverse group of new and existing investors from Europe, North America, the Middle East, and Greater China, including long-only investment managers, private equity and venture funds, university endowments, internet platforms, and consumer retail groups.
Micro Connect is an exchange group that has leveraged financial technology to connect global capital with China’s micro and small businesses. Through its revenue sharing investment and financing model, stores in the sectors of Food & Beverage, Retail, Services, and Culture & Sports can raise long-term capital by listing on the Micro Connect (Macao) Financial Assets Exchange (MCEX), an exchange trading revenue shares. The group’s proprietary revenue sharing asset class, Daily Revenue Obligations (DROs), gives investors direct and diversified exposure to the cash flows of millions of stores in China’s consumer economy, while making capital accessible to business owners.
The company intends to use the funds to to enhance MCEX’s market structure and develop a large financial market for micro and small business investing.
MCEX is slated to launch in August 2023.
FinSMEs
09/08/2023