SINGAPORE, June 28, 2024 /PRNewswire/ -- Longbridge Group Singapore announced that it had secured over USD $100 million in additional funding from various investment institutions, including Singaporean consortia, following its Pre-A round. To date, Longbridge Group has accumulated over USD $150 million in total financing. Leveraging its leading practices in "Finance + Internet Technology," Longbridge Group has rapidly developed in the Hong Kong and Singapore markets in recent years and has now achieved overall profitability. With this new funding, Longbridge Group plans to accelerate its global market expansion, focusing on Singapore and Hong Kong markets and extending its reach to Asia-Pacific, Europe, the Americas, and the Middle East.

In May 2021, Longbridge Group received USD $50 million in Pre-A round financing from institutions, including PhillipCapital (Singapore). Originally established and headquartered in Singapore, Longbridge Group has obtained over 21 financial compliance licenses and qualifications across Singapore, Hong Kong, the United States, and New Zealand. In 2022, it launched technology solutions for brokers in the Hong Kong market, establishing a dual business model driven by "Securities + Technology." At present, Longbridge Group has achieved overall profitability, with its securities business experiencing exponential growth. Its technology business has captured 16% of the market share in Hong Kong within 2 years, setting a growth record in the fintech industry.

In the financial industry, securities represent a more specialized and complex segment with significant upfront investments and low technology penetration. Longbridge Group identified opportunities in the global securities market and, with persistent shareholder support, succeeded through its dual business model of "Securities + Technology." The additional investment will be used to continue building global trading infrastructure and networks, improving the securities trading experience, and accelerating global market expansion.

Longbridge Group's securities business—"Longbridge," offers high-quality products at affordable prices, enabling more users to benefit from the intelligence and convenience of technology. Since its launch, it has been well-received by global investors, becoming the fastest internet broker to enter the Top 100 in trading volume on the Hong Kong Stock Exchange, with an annual trading volume exceeding USD $200 billion. It is also one of the fastest internet brokers to enter the top 100 free financial apps on the App Store in Singapore. As a leading internet broker, Longbridge is dedicated to providing global investors with a one-stop investment service across the markets of Hong Kong, the US, and Singapore, supporting various financial products including stocks, US stock options, warrants, ETFs, REITs, and funds. With the implementation of the finance industry's first large language model (LLM) application, "PortAI," investors are equipped with more cutting-edge and advanced AI tools, making it the best global investment platform.

Longbridge Group's technology business, "Longbridge Whale," has gained favor among numerous brokers in Asia with its "Securities as a Service" concept. By 2024, it had secured over 80 broker clients across Hong Kong, Macau, Singapore, and Thailand, successfully delivering and launching trading systems for more than 60 brokers. This growth strategy enabled it to rapidly expand and achieve a 16% market share in Hong Kong. Longbridge Whale's new-generation trading solutions help brokers reduce costs while significantly enhancing user experience and business competitiveness, aiding them in navigating technological upgrades. With its leading fintech practices, Longbridge Whale has been recognized by prestigious financial media, winning the "Triple A Digital Awards" from The Asset in 2023 and the "Best Wealth Management Technology Practice" award from The Asian Banker in 2024.

Founded in March 2019 by a team of senior financial experts from the U.S., Singapore, and Hong Kong, and technology experts from top global internet companies, Longbridge Group has a bold mission to build global trading infrastructure and networks, becoming a leader in fintech innovation worldwide. Currently, Longbridge Group has offices in nine locations globally, including Singapore, Hong Kong, the US, New Zealand, and Thailand, with nearly 400 employees, 60% of whom are top tech R&D talents from global internet companies. Longbridge Group aspires to bring revolutionary technology and concepts to the securities industry, drive the industry's digital transformation, and provide leading fintech capabilities and the best investment platform experience to global investors and financial institutions.