Tencent-backed Futu raises Series C to boost its online brokerage services, & more

Online broker Futu receives USD 145 million for Series C round led by Tencent


Founder: Li Hua

Founded in: 2012

Financing status: RMB 989 million (USD 145 million) Series C round in 2017

Online broker Futu on Monday receives USD 145 million in a Series C round led by Tencent to boost its capital and marketing plans.

Futu is an online brokerage platform that provides online brokerage services on personal computers and various mobile devices such as tablets and smartphones, and across multiple platforms including Windows, Mac, Android and iOS.

Customers can open a new online account to become a client based on the face-to-face certification process, so that investors in China are able to open Hong Kong equity accounts without having to visit Hong Kong.

Investors can monitor market movements of stocks in Hong Kong and the U.S. through its online platform, as well as buy and sell stocks online. Futu has also introduced artificial intelligence technology to help users make sound investment decisions. It also gives positive feedback and suggestions after understanding its clients’ businesses.

Founded in 2012, the company has more than 3 million users with a cumulative turnover exceeding RMB 500 billion.

This Series C financing round was led by Tencent, with Matrix Partners China and Sequoia Capital participating as investors. These three companies also invested in its Series A and B financing rounds. Moreover, Futu is the only company that attracts Tencent to invest in three of its financing rounds. Futu has already adopted Tencent’s cloud computing service in order to form a stable and reliable financial system for brokerage services. The capital raised in this round will be used to boost the capital and marketing plans, and increase investment on its technology to develop products with higher security and stability.

Cloud computing service provider QingCloud receives USD 159 million for Series D

Screenshot from Qingcloud.com
Screenshot from Qingcloud.com


Founded in: 2012

Financing status: RMB 1.08 billion (USD 159 million) Series D round in 2017

Cloud computing service provider QingCloud on Monday receives USD 159 million for its Series D financing round to boost its cloud computing services for various industries.

QingCloud is a cloud computing service provider that offers IaaS-based flexible cloud services, support for private networks, and cloud analysis that is based on multiple real-time security policy.

Founded in 2012 in Beijing, the company’s services have covered more than 70,000 enterprise customers from both traditional and emerging industries. Currently, it operates 24 cloud computing data centers including 10 proprietary data centers and 14 cooperative data centers which are located in Beijing, Shanghai, Guangzhou, Hong Kong, and so on.

This Series D financing round was from a group of inventors including China Merchants Securities, BlueRun Ventures, and ttp://www.lightspeedcp.com. QingCloud plans to use the fund to speed up the research and development of advanced cloud computing services, as well as recruiting more talent to expand.

(Top photo from 58pic.com)

Kaikai Shi

Kaikai Shi writes for us. He holds a bachelor's degree in Biotechnology at Zhejiang University. His interests are in new technology and reading. Kai believes that new technology will change the world we live in, and is trying to engage himself in this process.

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