Tiger Brokers snaps up $29m for online trading platform

Chinese online brokerage Tiger Brokers has picked up $29m in a Series B round from Citic GoldStone Fund Management and Huagai Capital.

The round also saw existing backers Zhen Fund and China Renaissance K2 Ventures participate.

The Beijing-based company offers an online overseas security trading platform aimed specifically at Chinese investors.

Tiger Broker’s platform is designed to support features such as one-click short selling, personal profit and loss analysis, stock option trading and real-time quotes.

As well as providing access to US, Hong Kong stocks and China A-shares, the company aims to support securities margin trading in as well as 13,000 US stocks, share options and ETF products.

Founded in 2014, the Tiger Brokers this month expanded into Singapore to provide investors with access to low-commission cross-border investment options.

Company CEO Wu Tianhua said its aim is to “make Tiger Trade the app of choice for any Chinese speaking investor with an international investment portfolio.”

Tiger Brokers will use the new capital to develop its infrastructure and boost its big data capabilities.

The round takes the company’s total funding to more than $44.5m.

It previously took on $15.6m in a Series A round led by Chinese hardware vendor Xiaomi in September 2015.

Copyright © 2016 FINTECH GLOBAL

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