Doris Yu · · 1 min readAMTD Group’s digital platform bags $285m from Value Partners, others
Singapore-based AMTD Digital, the integrated digital platform arm of Hong Kong-based financial institution AMTD Group, announced that it has raised S$386 million (US$285 million) in a funding round from Value Partners, Greater Bay Area Homeland Investments, Vision Knight Capital, Ariana Capital, Maoyan Entertainment and Infinity Power.
Photo credit: AMTD Group
Setting up its global headquarters in Singapore will allow the company to build “a one-stop digital solutions platform” that connects its financial services presence in Hong Kong with the ASEAN market, said Calvin Choi, chairman of AMTD Group and AMTD Digital, in a statement.
He added that the firm also plans to offer more solutions, such as digital connectors, ecosystem building, and data analytics as well as digital intelligence, media and marketing.
In January, AMTD Group said it had applied for a digital wholesale banking license in Singapore by leading a consortium with state-owned SP Group, crowdfunding startup Funding Societies, and Xiaomi Finance, the Chinese phonemaker’s consumer finance arm.
AMTD Digital also recently made several acquisitions in the Lion City: CapBridge, an online investment firm; PolicyPal, which has a digital insurance broker license from the Monetary Authority of Singapore; and Fomo Pay, a QR code and payments solution provider.
Currency converted from Singapore dollar to US dollar: S$1.36 = US$1.
Editing by Eileen C. Ang
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