Hong Kong-based Trend Lab has passed the unicorn mark, following the close of a HK $100m ($12.7m) angel round.
The newly-formed company is looking to develop big data and AI technology for FinTech companies across Asia Pacific. Trend Lab hopes to develop these solutions to work with blockchain, cloud systems and SaaS technology to help change the finance system in the Asia Pacific.
Trend Lab is also set to partner with EFT Solutions and 18 Financial Group to work on these technologies and boost their adoption across the finance industry in the region.
The company hit the unicorn mark within 86 days, following the country highest angel round, according to the company.
Trend Lab founder and CEO Tin Mok said, ?With more data and increased computing efficiency, AI technology can establish new and more accurate monetary and financial systems for corporates to better understand consumers’ needs, as well as more efficient services for micro, small and medium-sized enterprises.
?Instead of financial informatisation, we target to translate current financial systems into smart systems, exploring the unseen values and opportunities for businesses.”
This week has seen a selection of technology developers raise funding, with Originate bagging an investment from Pacific Growth Investors. Software developer Pillar Technology also secured capital, with NewSpring using its mezzanine fund to commit to the company.
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