TNG Wallet

paymentsmobile/digital wallet

FOUNDING YEAR: 2012
LOCATION: Hong Kong
Last Update: 17/07/2020

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About

TNG wallet is a digital wallet that enables users to make bill payments and conduct peer-to-peer money transfer via their mobile phones. Users can make payments for public utilities and to merchants, both in-store and online. The company works as a subsidiary of TNG Fintech Group.

Focus

PRODUCTS & SERVICES

The mobile app allows users to transfer their monney to more than 14 countires outside HongKong through their mobile app.

COMMENT

The company offering a next generation e-wallet platform with numerous innovative functions such as payment, person-to-person (P2P) money transfer, global remittance, and global cash withdrawal. (Sep. 2017)

Traction

VALUATION / MARKET CAP:

$565 M in 2017

TRACTION COMMENT:

The company's plan is to launch it's e-wallet services in Singapore, the Philippines, Indonesia, Malaysia and also seeking to further extend its market presence to Europe, and beyond. (Sep. 2017)

People

FOUNDERS

Alex Kong

NUMBER OF EMPLOYEES

201-500

INVESTORS:

KBR Group

New Margin Capital

Nogle Group

TNG FinTech Group Inc.

KEY EMPLOYEES:

Alex Kong(CEO)

Momentum

FUNDED

YES

TOTAL FUNDING

$145 M

DATE OF LAST FUNDING

Aug 2018

TOTAL FUNDING COMMENT

The company will use the funds to support it's global expansion strategy, to fund new acquisitions and to invest in new technologies such as Blockchain Technology, Artificial Intelligence (AI), ChatBot and e-KYC platform. (Sep. 2017)

FUNDING SERIES

SERIES A  · $115 M  · Sep 2017

SERIES D  · $30 M  · Aug 2018

LISTED

NO

Innovation Programs

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