HK startup TNG Fintech eyes $500m valuation, seeks to close funding round

People look out from the waterfront in the Tsim Sha Tsui district as buildings across the Victoria Harbour stand illuminated at night in Hong Kong, China, on Tuesday, Aug. 30, 2016. Photographer: Anthony Kwan/Bloomberg

TNG FinTech Group Inc., a Hong Kong-based digital wallet operator founded in 2013, is poised to close a funding round and is targeting a valuation of about $500 million, according to a person familiar with the matter.

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