25-year-old Tink Labs founder may soon give HK its first $1B startup

Terence Kwok. Photographer: Mark Tsang/Bloomberg

Hong Kong may soon get its first billion-dollar startup, thanks to a 25-year-old entrepreneur whose company leases phones to travelers.

Tink Labs Ltd. is in the process of raising about $40 million and aiming for a valuation of more than $1 billion, according to people familiar with the matter. The fundraising isn’t yet complete and the final figures could change, said the people, asking not to be identified because the information isn’t public.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter