Brief: This could be Hong Kong’s first billion-dollar startup. It’s run by a 25-year-old.

Image credit: Silicon Dragon

• 25-year-old entrepreneur Terence Kwok is the founder of Tink Labs, a startup that lends phones to tourists. He’s now raising US$40 million and aiming for a valuation of US$1 billion. The figures could change.
• The company has some prominent investors. It earlier raised US$125 million at a valuation of US$500 million from the likes of Foxconn, former Google China boss Lee Kai-Fu’s Sinovation Ventures, and Meitu chairman Cai Wensheng.
• Tink Labs has 300 employees. It has installed 120,000 smartphones in hotel rooms of major hotel brands like Starwood and Accor. Its devices can be found in prestigious locations like The Ritz London.

Source: Bloomberg

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