Hong Kong based FinTech platform Micro Connect raises $458m in Series C funding
By Gloria Mathias
Micro Connect, a Hongkong-based FinTech platform, has announced that it has completed a capital raise of $458 million in its Series C funding round, with broad-based participation from a diverse group of new and existing investors.
The funding round witnessed investors from Europe, North America, the Middle East, and Greater China, including leading long-only investment managers, private equity and venture funds, university endowments, internet platforms, and consumer retail groups.
Micro Connect (Macao) Financial Assets Exchange (MCEX), a licensed global exchange for DROs and related products, is scheduled to launch in August. The shareholder base and the new capital raised will support Micro Connect’s effort to enhance MCEX’s market structure and develop the world’s largest financial market for micro and small business investment.
Micro Connect is an exchange group that has leveraged financial technology to connect global capital with China’s micro and small businesses.
Through its innovative revenue-sharing investment and financing model, stores in the sectors of Food & Beverage, Retail, Services, and Culture & Sports can raise convenient and affordable long-term capital by listing on the Micro Connect (Macao) Financial Assets Exchange (MCEX), the world’s first exchange to trade revenue shares.
The group’s proprietary revenue-sharing asset class, Daily Revenue Obligations (DROs), gives investors direct and diversified exposure to the daily and transparent cash flows of millions of stores in China’s vibrant consumer economy, making capital more accessible and affordable to business owners.
With a fund platform, structured product solutions, and a licensed exchange, Micro Connect offers efficiency and liquidity in small business investing for global professional investors and a new alternative to impact investing.
IBSi Daily News Analysis
September 27, 2023
AXA Hong Kong & Macau
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