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Hong Kong's 8 Securities raises $9m Series B

  • Andrew Woodman
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Hong Kong-based stock trading and financial management platform 8 Securities has raised a $9 million Series B round of funding. The round included unnamed US and Chinese investors and existing backers Velocity Capital and Leitmotiv Private Equity.

This latest round will bring the start-ups total fundraising to $21.5 million. The firm previously raised a 12.5 million Series A round across three separate tranches in 2012, the same year it is was set up.

8 Securities has bases in both Hong Kong and Tokyo, Japan. According to TechCrunch, it plans to enter mainland China this year. The company's CEO, Mikall Abdulla, intends to use the extra funds to market the firm's latest products - Auto Portfolio and Social Trading.

Auto Portfolio is intended to give investors access to a professionally-managed global portfolio by offering a low-cost alternative to traditional financial investors or asset management firms.

The mobile-based platform takes a short survey of its users to assess their investment needs and then presents them with an portfolio of up to 16 global exchange traded funds. Users can then pick the amount they want to invest and check its performance on across several devices.

The business - which has around $750 million in assets under management - generates revenue by charging users 0.5% of the portfolio's average annual value, without additional fees or commissions.

 

 

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