Micro Connect
 | |
| Industry | Financial services |
|---|---|
| Founded | 2021 |
| Founder | Charles Li |
| Headquarters | Central, Hong Kong |
Area served | Hong Kong SAR Macau SAR Mainland China |
| Key people | Charles Li (Chairman) |
| Website | www |
Micro Connect is a financial technology startup founded in Hong Kong by Charles Li in 2021, with the backing of Li Ka-shing and Adrian Cheng.[1] The company aims to provide financing for micro and small businesses across mainland China and operates a platform for trading revenue obligations.[2]
Services
MicroConnect provides data-driven micro-financing to small businesses, with a particular focus on China.[3] It offers them customized financial products and services. The company utilises information technology to collect data from a network of small businesses in order to assess their financial health and growth potential.[4]
Additionally, MicroConnect has developed a unique financial service in which they package the revenues of small businesses and sell them as financial instruments, known as "Daily Revenue Obligations (DROs)".[3][4] This innovative approach involves securitising the revenue streams of small businesses, such as noodle shops and karaoke bars.[4]
The packaged revenues are then sold to investors on the Micro Connect Macau Financial Assets Exchange (MCEX), the first licensed global exchange for this new asset class.[5] The MCEX platform enables global investors to invest in China's micro and small businesses by purchasing financial instruments backed by daily revenues, indirectly providing capital to these businesses.[5]
References
- ↑ Wang, Catherine (2023-08-08). "Billionaire-Backed Fintech Becomes Hong Kong's Latest Unicorn With $458 Million Round, Baillie Gifford Joins As A New Investor". Forbes. Retrieved 2023-11-14.
- ↑ "Shein Targets Up to $90 Billion Valuation in US IPO, Sources Say". Bloomberg News. 2023-11-07. Retrieved 2023-11-14.
- 1 2 Haldane, Matt (2024-04-24). "Alternative finance firm Micro Connect pitches model to Southeast Asia at Money20/20". South China Morning Post. Retrieved 2024-08-13.
- 1 2 3 Wiggins, Kaye; Leng, Cheng (2024-02-05). "The financier turning China's noodle joints and karaoke bars into a data gold mine". Financial Times. Retrieved 2024-08-13.
- 1 2 Chung, Aileen (2024-01-16). "Charles Li's Micro Connect unveils new risk measurement metric for MCEX investors". South China Morning Post. Retrieved 2024-08-13.