Despite the downturn in startup financing, Hyphen Group, a fintech company headquartered in Hong Kong and Singapore backed by the likes of Hong Kong billionaire Richard Li, Alibaba Entrepreneurs Fund and Goldman Sachs, raised a $22 million funding round.
The round was led by Li’s PCCW, which controls Hong Kong’s largest mobile phone operator HKT and streaming service Viu. Previous investors in Hyphen include the World Bank’s IFC, Hong Kong conglomerate Jardine Matheson and SBI, Japan’s biggest online brokerage.
“The closing of this funding round demonstrates the confidence of our investors at a time of high market volatility, but also with undeniable opportunities for profitable growth,”