Share  Print  [-] [+]

Tencent Leads $146M Round In Chinese Online Brokerage Firm Futu

Tuesday, June 13, 2017

(ChinaMoneyNetwork by Pan Yue) - Chinese Internet giant Tencent Holdings Ltd. has led a US$145.5 million C round financing in Futu Securities, an online brokerage platform serving Chinese investors trading U.S. and Hong Kong-listed stocks.

Existing investors Matrix Partners China and Sequoia Capital China also participated in the round, which values the company at "unicorn level," its founder Li Hua said in an announcement, without disclosing exactly how much the company was valued at.

The term unicorn refers to a venture-backed private company valued at US$1 billion or more. If Li's statement is correct, Futu Securities would become the latest addition to China Money Network's China Unicorn Ranking, which includes 102 such companies worth a total of US$435 billion when the ranking was released in May 2017. Futu Securities would also become the first Hong Kong company to officially join the unicorn club.


View full article here