Hong Kong Startups HotelQuickly and Bindo Stay Competitive with Mobile Payment Product Updates

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Mobile payments are on the rise with $235 billion transactions processed in 2013, up 44% from the previous year’s $163 billion (Gartner). Mainland China alone has reportedly reached a total of 1.67 billion transactions made in 2013 – worth an unfathomable US $1.6 trillion.

The growth in mobile payment tech not only amps up security and convenience for customers, but it’s also become quite the crowded space for entrepreneurs. Two of our startups, last-minute hotel booking app HotelQuickly and iPad point-of-sale system Bindo, have announced product updates this month in order to maintain a competitive edge.

Just last week, HotelQuickly announced a partnership with PayPal to offer their users a seamless mobile experience. This makes the last-minute hotel booking app the first travel merchant in Southeast Asia to integrate PayPal’s mobile SDK. HotelQuickly customers can now make speedy in-app hotel bookings in just a few clicks.

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Hong Kong Startup HotelQuickly Raises a Huge Series A-1 Round of US $4.5 Million

hotelquickly
Hong Kong’s HotelQuickly has raised a huge Series A-1 round of US $4.5 million.

The investment was led by global mobile social company GREE and also included William E. Heinecke, the CEO and chairman of Thai-based Minor International, a hospitality giant that operates over 1,500 restaurants and 100 hotels in the Asia-Pacific, the Middle East and Africa.

The last-minute hotel booking app’s latest deal will bring its total funds to $US 5.5 million, having raised $1.13 million back in September of last year. According to a release, the HotelQuickly team plans on using the new capital to ramp up its product development efforts and will also be hiring for a number of development and marketing roles in its Bangkok and Hong Kong offices.

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Startup Funding Love: The Hong Kong Startups That Secured Investments

Grumpy
Happy Valentine’s Day startups – we did a roundup of some of our favourite startups that received some love from investors over the past 12 months.

As the Hong Kong ecosystem matures year by year, we’d like to keep track of all the monumental successes that our startups have experienced. 2013 was a great year of funding for Hong Kong startups – with deals ranging from the US$200k to $12M giving new and veteran investors had a chance to get involved. We know we might have missed a deal or two, so this will serve as a working list of the top funding in 2013.

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