Exclusive | Hong Kong issues equity crowdfunding licence to AngelHub in boost to fintech ambitions, start-ups
- Retail investors will not be allowed on company’s platform
- Only about 5 per cent of start-ups that apply to the platform will be introduced to investors, CEO says
Hong Kong’s Securities and Futures Commission is doing its bit to ensure the city’s regulatory environment is in line with international standards and welcoming for financial technology companies.
This month, it issued two licences to AngelHub, an equity crowdfunding operator, that allow it to offer securities trading and advisory services.
Its co-founder and chief executive, Karen Contet Farzam, told the South China Morning Post the licences were important to her company – as well as the start-up environment in Hong Kong.
“Hong Kong has been an ideal market for start-ups as it is close to other Asia-Pacific countries, while it is an international market itself. The Greater Bay Area offers a lot of business opportunities – it just needs a platform to match investors with start-ups. The SFC licences will make it happen,” she said in an interview.
Hong Kong, however, is not known for start-up funding. “We are here to make a change – for Hong Kong investors to access the unicorns of tomorrow,” she added.
