Klook Completes US$425M Series D Funding with New Capital Raise led by Softbank Vision Fund

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Klook announced it has raised US$225M in Series D+ funding. This increases the company’s total Series D funding round to US$425M. The SoftBank Vision Fund led the round with participation from existing investors, including Sequoia China, Matrix Partners, TCV, and OurCrowd. This represents the largest financing in the global travel activities and services industry.

In just four years, Klook has become the most searched travel activities and services company on Google. In the last year, the Hong Kong-based company expanded its global footprint into Australia, Europe and the United States to deliver new, unique and exciting consumer experiences. Klook also entered into major global partnerships with Shangri-La Hotels and Resorts, Asia Pacific’s leading luxury hotel group; and Rail Europe, a leading distributor of European rail products that represents more than 50 railroads throughout Europe.

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Hong Kong’s 4 Fintech Unicorns: Download the Newest Whitepaper on Hong Kong’s FinTech Ecosystem Now!

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WHub’s FinTech Whitepaper presents the key findings and facts as well as a comprehensive analysis of the contributing factors in the ecosystem that have solidified Hong Kong’s position as a leading global Financial Hub and its evolution into a competitive FinTech Hub.

Such contributing factors include the strength of its financial sectors, a strong talent pool, Hong Kong’s position as a gateway to regional and Mainland China markets, the regulatory framework, as well as many other variables. Hong Kong has seen extensive activity in its startup ecosystem with an estimated 3,000+ startups.

Specifically, the city now boasts the evolution of 4 homegrown FinTech Unicorns:

  1. AirWallex (raised US$202 million)
  2. BITmex (trading history of over US$34 billion worth of Bitcoin since its launch)
  3. The TNG FinTech Group (raised US$115 million in Series A, the largest series A investment for a FinTech company)
  4. WeLab (raised US$425 million).

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Hong Kong’s 2019 Budget Allocates Big Budget to Startups

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Thanks Paul Chan! For the first time since we started StartupsHK, the Hong Kong government is really coming up with the cash to support our ecosystem.

Hong Kong Financial Secretary Paul Chan delivered his third Budget Speech yesterday with a raft of new monetary sweeteners aimed at promoting the city’s innovation and technology development. We refuse to call it “I.T.” – lets just call it “tech!”

$5.5 billion for the development of Cyberport 5 to accommodate more technology companies and startups. The expansion project is expected to provide about 66,000 sqm of floor area, and include facilities such as offices, co-working space, conference venues and data service platforms.

The budget raises the maximum annual funding under the Technology Start-up Support Scheme for Universities from the existing HK$4 million to HK$8 million—for each university—starting from 2019-20 to better nurture university start-ups.

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