Beijing-based Xiangshang Rongke Technology Development, operator of online stock trading platform Tiger Brokers, recently announced completion of RMB 100 mln Series B+ funding led by China Growth Capital with participation from ZhenFund.
Wu Tianhua, founder and CEO of Tiger Brokers, said that following the latest funding round, the company will focus on its brokerage activities in the US and Hong Kong securities markets, and will expand investment in platform products and technologies. As a leading international financial technology company, Tiger Brokers will also continue to focus on upgrading users' transaction experience.
Tiger Brokers' product history includes:
• In July 2015, it launched US stock transactions closed beta testing for its trading software, Tiger Trade, and reached monthly transaction volume of over RMB 600 mln.
• In March 2016, it launched its US stock options trading business, and Tiger Trade became the first US stock transactions mobile app product in China, reaching monthly transaction volume of RMB 5 bln. In May 2016, Tiger Brokers launched its Hong Kong stock trading business, including more than 1,800 stocks listed on the Hong Kong market. Monthly transaction volume reached RMB 12 bln. In March 2017, it launched Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect services, enabling users to use a single account to trade Chinese A-shares, Hong Kong-listed, and US-listed stocks.
ZhenFund previously invested in Tiger Brokers' angel funding and Series B funding rounds.
Editor's Note: For more information on this topic, please see "Online Stock Trading Platform Tiger Brokers Wins RMB 200 Mln Series B," MD 12/27/16 issue.