Hong Kong, a nation with a rich history of innovation and entrepreneurship, has witnessed an incredible surge in the number of unicorns – privately held start-up companies valued at over $1 billion – in recent years. With the rapid growth of the Hong Kong economy and the rise of disruptive technologies, these 7 unicorn companies have become the driving force behind the nation’s rise as a global powerhouse.
So without any delay, let’s get started and discover the world of Hong Kong’s unicorn companies!
List of 7 Unicorns in Hong Kong
1. Lalamove
A Hong Kong-based logistics company that provides on-demand and scheduled delivery services for businesses and consumers.
Company Details:
- Valuation: $10B
- Investors Name: MindWorks Ventures, Shunwei Capital Partners, Xiang He Capital
- City: Cheung Sha Wan
- Industry: Supply chain, logistics, & delivery
- Total Funding Raised: $2.475B
- Founded Year: 2013
- Joined Unicorn Club: 2/21/2019
- Total Investors:
- Total Deal Terms: 5
- Website: https://www.lalamove.com/
2. Amber Group
An American digital asset trading and technology company that provides trading and technology solutions for businesses.
Company Details:
- Valuation: $3B
- Investors Name: –
- City: Fintech
- Industry: Tiger Global Management, Tiger Brokers, DCM Ventures
- Total Funding Raised: $328M
- Founded Year: 2015
- Joined Unicorn Club: 6/21/2021
- Total Investors:
- Total Deal Terms: 3
- Website: https://www.ambergroup.io/
3. Babel Finance
A Chinese crypto finance company that provides financial services and solutions for individuals and businesses.
Company Details:
- Valuation: $2.00 B
- Investors Name: Dragonfly Capital, BAI Capital, 10T Fund
- City: Hong Kong
- Industry: Fintech
- Total Funding Raised: –
- Founded Year: 2018
- Joined Unicorn Club: 5/25/2022
- Total Investors:
- Total Deal Terms: –
- Website: https://babel.finance/
4. Trendy Group International
A Chinese fashion e-commerce company that provides trendy and affordable fashion products for customers.
Company Details:
- Valuation: $2B
- Investors Name: L Capital Partners
- City: Kowloon
- Industry: Consumer & retail
- Total Funding Raised: $200M
- Founded Year: 1999
- Joined Unicorn Club: 2/13/2012
- Total Investors:
- Total Deal Terms: 1
- Website: https://www.trendygroup.com/
5. Klook
A Hong Kong-based travel platform that provides booking solutions and services for travelers.
Company Details:
- Valuation: $1.35B
- Investors Name: Sequoia Capital China, Goldman Sachs, Matrix Partners China
- City: Central
- Industry: Travel
- Total Funding Raised: $721.19M
- Founded Year: 2014
- Joined Unicorn Club: 8/7/2018
- Total Investors:
- Total Deal Terms: 3
- Website: https://www.klook.com/
6. Cider
Cider is an innovative e-commerce platform that specializes in direct-to-consumer sales for international markets. With a focus on delivering high-quality products directly from the manufacturer to the consumer, Cider offers an efficient and convenient way for customers around the world to purchase goods online.
Company Details:
- Valuation: $1B
- Investors Name: –
- City: E-commerce & direct-to-consumer
- Industry: Andreessen Horowitz, DST Global, IDG Capital
- Total Funding Raised: $131.46M
- Founded Year: 2020
- Joined Unicorn Club: 9/2/2021
- Total Investors:
- Total Deal Terms: 2
- Website: https://shop.shopcider.com
7. WeLab
A leading fintech company that provides innovative financial services through its mobile lending platform and virtual banking solutions.
Company Details:
- Valuation: $1B
- Investors Name: –
- City: Fintech
- Industry: Sequoia Capital China, ING, Alibaba Entrepreneurs Fund
- Total Funding Raised: $896M
- Founded Year: 2013
- Joined Unicorn Club: 11/8/2017
- Total Investors:
- Total Deal Terms: 3
- Website: https://www.welab.co/
Conclusion
In conclusion, Hong Kong’s top 7 unicorns showcase the nation’s innovative power and economic growth. These companies are making a global impact and reshaping industries. Keep an eye on these trailblazers, as they continue to redefine success in the ever-evolving world of innovation.