China Growth Capital has led a RMB100 million (US$14 million) series B+ round in Tiger Brokers Co., a Beijing-based online brokerage firm.
Existing investor Zhen Fund also participated in the round, according to a company announcement.
Founded in 2014, Tiger Brokers provides brokerage services to people trading shares listed in the U.S., Hong Kong and domestic exchanges. This month, it launched Shenzhen-Hong Kong Stock Connect and Shanghai-Hong Kong Stock Connect services, allowing users to trade Hong Kong stocks, U.S. stocks and domestic stocks in one account.
Last year, the company’s annual transaction value reached RMB120 billion (US$17 billion), making it the largest brokerage firm of its kind for Chinese investors, the company claimed.
It previously received a RMB200 million (US$29 million) series B round from CITIC GoldStone Fund Management Co., Ltd. and Huagai Capital last December, and a RMB100 million (US$16 million) financing in the company led by Chinese smartphone maker Xiaomi Inc. in 2015.
The firm said it plans to develop its U.S. stock exchange presence, as well as upgrade products.