Tiger Brokers, a China-based online brokerage backed by smartphone producer Xiaomi, has raised RMB200m ($29m) in series B funding, China Money Network has reported.
The round featured Citic GoldStone Fund Management, part of Chinese state-owned investment firm Citic, as well as private equity firm Huagai Capital, venture capital fund Zhen Fund and China Renaissance K2 Ventures, a subsidiary of merchant bank China Renaissance.
Tiger Brokers operates a brokerage service for Chinese investors that want to trade foreign securities, with shares in US and Hong Kong-listed companies a speciality.
Citic Securities, which operates as Citic’s brokerage subsidiary, will supply strategic advice to Tiger Brokers as it seeks to grow. Tiger Brokers also formed a strategic partnership with investment data provider ChineseInvestors.com in September 2016.
Xiaomi led Tiger Brokers’ $15.7m series A round in August 2015, after ZhenFund and China Renaissance K2 Ventures had supplied earlier funding.