Tiger Brokers, a China-based online brokerage firm backed by smartphone manufacturer Xiaomi, has raised RMB100m ($14m) in a series B+ round led by China Growth Capital, China Money Network reported on Friday.
Zhen Fund also contributed to the round, having previously participated in the company’s $29m series B round in December 2016 alongside Citic GoldStone Fund Management, a subsidiary of securities broker Citic Securities, as well as Huagai Capital and China Renaissance K2 Ventures.
Founded in 2014, Tiger Brokers operates a brokerage service aimed at investors trading shares listed in China, Hong Kong and the US. The company claims its annual transaction value in 2016 was $17bn.
Xiaomi led Tiger Brokers’ $16m series A round in 2015, with participation from Zhen Fund and China Renaissance K2 Ventures.
The series B+ funds will enable Tiger Brokers to further increase its US presence and pursue product development.