Sunday, September 7, 2025
  • Login
Forbes 40under40
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
Forbes 40under40
No Result
View All Result
Home Uncategorized

Fintech Firm Backed By Hong Kong Billionaire Richard Li Raises $22 Million In Funding Round Led By PCCW

by Riah Marton
in Uncategorized
Fintech Firm Backed By Hong Kong Billionaire Richard Li Raises  Million In Funding Round Led By PCCW
Share on FacebookShare on Twitter


Richard Li, chairman and chief executive officer of Pacific Century Group, speaks during the Hong … [+] Kong Fintech Week in Hong Kong, China, on Monday, Nov. 1, 2022. The conference runs through Nov. 4.

Paul Yeung/Bloomberg

Despite the downturn in startup financing, Hyphen Group, a fintech company headquartered in Hong Kong and Singapore backed by the likes of Hong Kong billionaire Richard Li, Alibaba Entrepreneurs Fund and Goldman Sachs, raised a $22 million funding round.

The round was led by Li’s PCCW, which controls Hong Kong’s largest mobile phone operator HKT and streaming service Viu. Previous investors in Hyphen include the World Bank’s IFC, Hong Kong conglomerate Jardine Matheson and SBI, Japan’s biggest online brokerage.

“The closing of this funding round demonstrates the confidence of our investors at a time of high market volatility, but also with undeniable opportunities for profitable growth,” Prashant Aggarwal, group president of Hyphen, said in a statement on Friday. “We’re well positioned for the years ahead.”

At the same time, Sam Allen has stepped down as CEO after more than six years leading the fintech company. Allen, who will stay on as an advisor, will be replaced as CEO on an interim basis by Derek Fong and Kenneth Chan from Li’s private investment company Pacific Century Group, Hyphen’s largest shareholder.

Bloomberg News previously reported that Hyphen was in talks to go public through a SPAC merger valuing the company at up to $1 billion.

Founded in 2014, the company was formerly known as CompareAsiaGroup. The company helps analyze and compare financial products like credit cards and insurance in Hong Kong, Singapore, Malaysia, the Philippines and Taiwan. The company rebranded to Hyphen last year after it acquired Seedly, a Singaporean personal finance firm, from ShopBack.



Source link

Tags: asia fintechasia startupasia unicornBackedBillionaireFintechFirmFundingGoldman SachsHonghong kong fintechhong kong startuphong kong unicornKongLedli ka shingMillionPCCWRaisesRichardRichard Lisingapore fintech
Riah Marton

Riah Marton

I'm Riah Marton, a dynamic journalist for Forbes40under40. I specialize in profiling emerging leaders and innovators, bringing their stories to life with compelling storytelling and keen analysis. I am dedicated to spotlighting tomorrow's influential figures.

Next Post
What to Do When You Hate Creating Content for Your Business

What to Do When You Hate Creating Content for Your Business

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Forbes 40under40 stands as a distinguished platform revered for its commitment to honoring and applauding the remarkable achievements of exceptional individuals who have yet to reach the age of 40. This esteemed initiative serves as a beacon of inspiration, spotlighting trailblazers across various industries and domains, showcasing their innovation, leadership, and impact on a global scale.

 
 
 
 

NEWS

  • Forbes Magazine
  • Technology
  • Innovation
  • Money
  • Leadership
  • Real Estate
  • Lifestyle
Instagram Facebook Youtube

© 2025 Forbes 40under40. All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle

© 2024 Forbes 40under40. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In