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Start-ups

Chinese online stockbroker Tiger Brokers gets investment from US firm Interactive Brokers

The Chinese company, which is backed by billionaire investor Jim Rogers, did not disclose the amount received in its latest fundraising

PUBLISHED : Thursday, 21 September, 2017, 3:14pm
UPDATED : Thursday, 21 September, 2017, 10:18pm

Tiger Brokers, a Chinese online securities brokerage start-up backed by Wall Street billionaire investor Jim Rogers, said on Thursday it has landed an investment from Interactive Brokers Group, one of the largest electronic brokers in the United States.

The Beijing-based Tiger Brokers, which offers an app to allow Chinese investors to trade on US stock markets and the Hong Kong exchanges and in Chinese A shares, did not disclose the size of the investment by Interactive Brokers.

“By expanding and strengthening the collaboration with Interactive Brokers, we will continually secure a leading position in the fintech market to provide US stock brokerage services to the global Chinese community,” said Wu Tianhua, founder of Tiger Brokers, in a statement.

US stocks a phone tap away for Chinese traders via Tiger Brokers

Founded in 2014, the company has seen its the value of annual transactions in China surge to 120 billion yuan (US$18.2 billion) in 2016, and it expects to see the figure rise fourfold this year with the global expansion of its business.

Its app, Tiger Trade, is available in more than 200 countries and regions around the world, and offers users the ability to track stock quotes as well as live news feeds.

CreditEase Fintech Investment Fund, a venture capital fund, also said it had invested in Tiger.

“We are very optimistic about Tiger’s future development potential,” said Cong Yu, managing partner of CEFIF.

“Securities is one of the backbones of the finance industry, and the internationalisation of the sector has brought a wide market perspective and cross-border stock trading, which play key roles in the global asset allocation strategy of investors.”

Prior to the latest investments, Tiger Brokers has received injections of funds from Chinese smartphone major Xiaomi and venture capital funds ZhenFund and China Growth Capital.