(Yicai Global) June 13 -- Internet securities trader Futu Securities International (Hong Kong) Ltd. concluded its C round financing yesterday.
It drew in USD145.5 million from Tencent Holdings Ltd. [HKG:0700], Matrix Partners China and Sequoia Capital.
This round shares the same investors with the earlier A and B rounds, with Tencent still holding the lead.
Futu brought in USD 10 million investment in its A round financing in 2014 and another USD 60 million in its B round financing the following year, both from the above three investors. The success of its C round prompted Futu to declare that it now qualifies as a unicorn.
Futu's investors have remained unchanged in its three consecutive financing rounds, with Tencent getting the lion's share each time. Futu founder and chairman Li Hua started with Tencent as early as 2000 upon graduation to become its 18th employee, as well as one of its earliest staffers engaged in the research and development of QQ, Tencent's instant messaging service provider. Futu is therefore deemed a broker under Tencent by some market players.
The capital injection in this round will largely go to products, R&D and security construction, Li noted. Another target is to continually deepen cooperation with the Hong Kong, Nasdaq and New York stock exchanges for free and instant stock market information in Hong Kong and the US. Also, the capital will be invested in information-based application of artificial intelligence and Deep Learning to constantly reinforce aid to users in investment decision-making.
An online broker, Futu is dedicated to transactions in the US and Hong Kong stock markets.