Financiamento

6/2/24

Micro Connect has announced that it has received support from HSBC Holdings for a loan facility worth US$200 million (MOP1.6 billion).

In an announcement made on Monday, the company stated that HSBC would initially provide US$50 million in credit under the asset-backed loan facility.

This is not the first time HSBC has provided financial support for Micro Connect, which operates a marketplace to raise global capital for small and medium-sized businesses in mainland China.

In December 2022, HSBC arranged a loan of up to US$25 million for Micro Connect, becoming the first bank to do so.

Charles Li, the founder of Micro Connect, expressed delight in continuing the collaboration with HSBC as a long-term financing partner.

“This new facility is crucial for expanding our business model in China and beyond, as well as helping us transform into a fully disinterested operator of MCEX.”

https://www.macaubusiness.com/micro-connect-secures-us200-mln-loan-facility-from-hsbc/



8/8/23

Financial technology startup Micro Connect – backed by the likes of Hong Kong billionaire Li Ka-shing and property tycoon Adrian Cheng – announced it raised $458 million in a Series C funding round, valuing the two-year-old startup at $1.7 billion.

The funding round included participation from new investor Baillie Gifford, a Scottish investment firm that’s backed tech giants Amazon and Tesla, Micro Connect told Forbes Asia. Also participating in the round were returning investors such as billionaire Neil Shen’s Sequoia China (which Sequoia will rebrand as Hongshan next year), Lenovo Capital, Vectr Fintech and Dara Holdings.

The fresh capital brings Micro Connect’s total equity raised to $578 million, on the back of its $70 million Series B funding round last March.

“MCEX [Micro Connect’s exchange platform] is a new market, and we expect to see more ecosystem partners to join us, pool their wisdom and insights, and explore the investment opportunity in the blue sea of China's micro and small businesses,” said Charles Li, 62, cofounder and chairman of Micro Connect, in a statement.

Founded in 2021, Hong Kong-based Micro Connect facilitates global institutional investments in micro and small businesses across mainland China. To date, Micro Connect has invested in more than 9,000 brick-and-mortar businesses in 198 Chinese cities, tripling the number of stores from the exchange’s opening in March. These stores span industries such as retail, food and beverages, services, and culture and sports. The startup expects 30,000 businesses to list on its platform by the end of the year.

Defined as enterprises employing less than 300 people and garnering less than 3 million yuan ($435,700) in annual revenue, micro and small businesses contributed 60% of China’s GDP in 2021, per official statistics last March, the latest figures available.

On Micro Connect’s exchange, which was authorized by Macau’s chief executive last December, investors can trade an all-new asset class known as Daily Revenue Obligations (DROs). Enabled by blockchain technology, DROs are tradable instruments that provide direct exposure to an agreed percentage of a store’s daily revenue over a specified period. They allow small businesses to tap into fresh capital without becoming saddled by debt, while allowing investors the ability to incrementally collect their returns, according to Micro Connect.

https://www.forbes.com/sites/catherinewang/2023/08/08/billionaire-backed-fintech-becomes-hong-kongs-latest-unicorn-with-458-million-round-baillie-gifford-joins-as-a-new-investor/


2/8/23

HONG KONG, Aug 2 (Reuters) - Hong Kong-based microfinance platform Micro Connect on Wednesday said it has raised $458 million from new and existing investors, including private equity and venture funds and university endowments.

Micro Connect, co-founded by former Hong Kong Exchanges and Clearing CEO Charles Li, will use the funds to support the company's Micro Connect (Macao) Financial Asset Exchange, according to a company statement. (Reporting by Roxanne Liu and Selena Li; Editing by Tom Hogue)

https://finance.yahoo.com/news/hong-kong-based-microfinance-platform-012713670.html + https://www.todayonline.com/world/hong-kong-microfinance-platform-micro-connect-raises-us458-million-2224391

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