<article><a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Marathon+Ventures" target="_blank" rel="noopener">Marathon Venture Partners</a> has led a $9.4-million funding round in Hong Kong fintech company <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Lion+Rock" target="_blank" rel="noopener">Lion Rock Fintech Ltd,</a> the company said in a statement.</article>

<a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Marathon+Ventures" target="_blank" rel="noopener">Marathon Venture Partners</a> has led a $9.4-million funding round in Hong Kong fintech company <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Lion+Rock" target="_blank" rel="noopener">Lion Rock Fintech Ltd,</a> the company said in a statement.
<a style="color: #000080;" href="https://www.dealstreetasia.com/?s=9F" target="_blank" rel="noopener">9F Inc</a>, the strategic investor who backed Lion Rock’s previous round of financing, also invested in this round. The NYSE-listed fintech company <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Yirendai" target="_blank" rel="noopener">Yirendai</a> participated as a new strategic investor.
The transaction is subject to approval from the Hong Kong Securities and Futures Commission.
Upon completion, Lion Rock will own <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Noble+Apex" target="_blank" rel="noopener">Noble Apex Advisors Ltd</a>, a SFC licenced company. Noble Apex operates iFund, an online fund distribution platform that offers over 1,000 mutual funds from over 50 different asset management companies.
Lion Rock aims to expand iFund as a leading online fund distribution platform.
Lion Rock will also operate lionfin.com, a financial media platform providing real-time financial information and comprehensive wealth management information.
iFund founder Dr. Chan Mou-fung, will be chairman of the board of directors of Lion Rock after the completion of this transaction.
&#8220;The strong support from the investors and strategic partners will enable us to integrate finance, technology and media resources, making us stronger and more powerful,&#8221; Chan said.
Although Hong Kong is considered a major international financial centre, it is lagging behind when it comes to fintech development.
In fact, despite its enormous fund sales market, which reached $62 billion and expected to exceed $100 billion in 2017, Hong Kong’s fund distribution is dominated by traditional banks whereas the proportion of online distribution is extremely small.
Both fund houses and investors are expecting a sophisticated online financial services platform to serve a bigger role in a fintech-enabled future.
iFund disclosed it will integrate online and offline resources and reshape the traditional financial services model with technologies innovations.
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The latest investment in Lion Rock was touted as a benchmark venture capital financing in the Hong Kong fintech industry.

Marathon Venture leads $6.4m round in HK fintech firm Lion Rock

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Marathon Venture leads $6.4m round in HK fintech firm Lion Rock

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