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5 in 5 minutes - May 19th

Hong Kong Startup News Round Up

4xLabs raises US$1.5M in Pre-Series A

The Singaporean FinTech startup, 4xLabs, has raised US$1.5 million in a Pre-Series A round. 4xLabs develops solutions for money services businesses and travellers in the cash exchange market.

Here is all you need to know about 4xLabs and the funding round.

Hong Kong's Qupital raises US$2M from MindWorks Venture and Alibaba

Qupital, a Hong Kong-based FinTech startup has raised US$ 2 million in seed funding, in a round led by MindWorks Ventures and the Alibaba Entrepreneurs Fund, with the participation from DRL Capital and Aria Group. The funding will be used for geographical expansion and product development.

Launched in mid-2016, Qupital allows companies to raise finance against their receivables by connecting them with investors interested in a new asset class.

Taiwan's KKday expands to Malaysia

The Taiwan-based TravelTech startup has announced expansion into Malaysia, aims to dominate the US$5 million travel and tourism market.

KKday provides consumers with over 6,000 travel experiences from 53 countries and 170 cities all over the world.

Razer partners with 3 Group, raises US$50-100M from Li Ka-Shing's Horizons Ventures

Singapore's gaming company Razer has announced its strategic partnership with 3 Group. According to e27, 3 investor Li Ka-Shing has also taken a stake in Razer through his VC firm Horizons Ventures. The investment worth “more than US$50 million and less than $100 million," bringing the company's valuation at "close to US$2 billion."

Tencent invests U$90M into Pocket Gems

China's giant Tencent has invested US$90 million into the Califonia-based mobile gaming company Pocket Gems. The new round brings Pocket Gems valuation to about US$500 million.

Prior to the new investment, Tencent has participated in the company's US$60 million Series B round and has acquired a 20 per cent stake in Pocket Gems.

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