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5 in 5 minutes - July 7th

Hong Kong Startup News Round Up

Cross-border payments startup InstaReM raises $13M

Singapore-headquartered startup InstaReM raises $13 million in its Series B round of funding. The investment will be used for expanding its global infrastructures, such as markets in Europe and the United States, as well as encouraging employees’ strength.

InstaReM is licensed as a Money Services Business (MSB) in Singapore, Hong Kong, Australia and Canada. It powers local payments to more than 50 countries across the globe. It has created a unique payment mesh in Asia to make fast low-cost cross-border payments.

WHub to launch Hong Kong Startup Ecosystem Toolbox V.3

The Hong Kong Startup Ecosystem Toolbox white paper V.3 of WHub will be officially launched on July 11 during RISE conference. It has built on the success of the second edition early this year. WHub will showcase and celebrate the startup scene in Hong Kong with all fellow entrepreneurs and people who are interested in startups. The event also unites key community builders to present insights and information about startup trends and startup resources to the audience and the press.

Betatron Accelerator programme to open for Cohort #2

Betatron is now recruiting startups for its accelerator programme for cohort #2 until August 14th. This time, the application will be closed once Betatron has found their chosen startups by reviewing applications on a rolling basis. Also, they accept startups from Hong Kong and overseas for cohort #2.

Betatron is Hong Kong’s first non-vertical accelerator programme providing both funding and mentorship for startups. The program will be run boot camp style with an intensive schedule focused on the startup’s fundamental KPIs and progress.

Block.one raises $185M in record-breaking ICO

Hong Kong-based blockchain startup, Block.one, has created a new fundraising record on its ICO campaign after raising $185 million in under 5 days. The initial coin offerings (ICOs) is a hot trend for blockchain solution that gives a  way for the public to buy new cryptocurrencies. The Ethereum-based EOS, its main product,  is a software which allows developers to build blockchain applications on top of it.

Block.one plans to bring blockchain to businesses. Its platform offers a level of scalability unprecedented in the blockchain world and allows to process millions of transactions per second with no transaction fees.

Ballr sets US$20M goal for fundraising

Hong Kong-based startup, Ballr, is looking to raise up to US$20M in new funding this year from Hong Kong investors, as they plan to promote its live interactive gaming application and expand into its key market in China.

Ballr's football app delivers a rapid micro-gaming platform that users can engage with on their smartphones while watching live football matches. With the popularity of live events streamed online, it will soon add interactive mobile games of live cricket and basketball matches to further broaden its market.

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