Jim Rogers-backed Tiger Brokers raises $80m Series C, enters unicorn club

Photo: Tiger Brokers website

Chinese online stock brokerage startup Tiger Brokers announced that it has closed an $80-million Series C round at a valuation of $1.06 billion, making it the latest unicorn startup in China.

The round was joined by Prospect Avenue Capital (PAC), Orient Hontai Capital, Oceanpine Capital and others, said Tiger Brokers in an announcement today. The fresh capital will be used for product and technology research and development as well as talent expansion.

The startup also aims to accelerate the development of its all-in-one global asset allocation platform.

“We are proud to participate in Tiger’s latest financing. The company is recognized as one of the leading fintech companies in the industry and thanks to its internet genes and R&D ability, it has secured a relatively high market share and is developing rapidly,” said PAC founding partner Liao Ming.

Founded by former NetEase developer Wu Tianhua in 2014, Tiger Brokers claims to be the only online broker that allows Chinese investors to trade on the US and Hong Kong stock exchanges as well as in mainland China.

It also has an online community for investors to share information and trading experience. The startup facilitated trade volumes worth RMB120 billion ($18 billion) and RMB500 billion ($75 billion) in 2016 and 2017 respectively.

Tiger Brokers has been backed by more than 20 investors, including investment guru and Wall Street billionaire Jim Rogers, recently-listed Xiaomi, China Growth Capital, Citic Securities and China Renaissance K2 Ventures. It had raised a $29-million Series B round in December 2016 and a $14 million Series B+ in March 2017.

Also Read:

Investment guru Jim Rogers to invest in Chinese fintech Tiger Brokers

China Growth Capital leads $14m funding in Tiger Brokers

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.