Chinese tech-focused venture group invests in hi
SINGAPORE, July 7, 2021 /PRNewswire/ -- Today, the world's first membership-powered financial service for crypto and fiat - hi - announced a strategic investment partnership with Longling Capital. The investment will be used to accelerate hi's impressive early membership growth. Building a global and engaged membership base, hi seeks to build the world's first membership economy grounded in transparency and community - not profits.
hi's pilot service is a cross-ecosystem financial services platform through the world's most popular social media messengers, such as WhatsApp and Telegram. In less than two months of private beta, hi has already amassed 300,000+ members from over 130 countries.
Founded by former CEO of Bitcoin.com Stefan Rüst, and former CMO of Crypto.com Sean Rach, the hi team is composed of leading figures from some of the world's most pioneering tech and finance companies, including Tencent, Alibaba, JP Morgan and Morgan Stanley.
Longling Capital was founded by Mike Cai and includes some of China's largest internet and technology companies, including 265.com, Meitu and 4399 among its long list of successful ventures.
Longling Capital Partner, Dongfeng Wang said: "We envision a near future where technology acts as the enabler for bringing de-centralised finance to a global, mass audience. hi's vision, team and impressive membership growth aligns perfectly with Longling's strategy, and we are in no doubt that our expertise will supercharge hi's path to mass adoption."
"The partnership with Longling Capital lays down a new marker in our ambition to build long-term equity with a massive global audience," added hi Co-founder, Sean Rach. "The experienced team at Longling have demonstrated time and time again their talent for growing technology companies for mass adoption - not least in the decentralised finance space. We are excited that they will join us in the next step of hi's journey."
About Longling Capital
Longling Capital is a Chinese venture capital firm specialising in seed stage, early-stage and angel investments. Longling was founded by Mike Cai and includes 265.com, Meitu and 4399 among its portfolio. For more information, visit longling.com.
hi is leveraging blockchain technology to build services that are community-powered. Members of hi are the key stakeholders of this ecosystem and the business is committed to maximize membership value - not profits. Our first product is a digital wallet that provides members with the most seamless payment experience via social messengers (initially Telegram and WhatsApp, next LINE, Facebook Messenger, Viber and others). For more information, visit hi.com.
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