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| Industry | Financial services |
|---|---|
| Founded | 2021 |
| Founder | Charles Li |
| Headquarters | Central, Hong Kong |
| Area served | Hong Kong SAR Mainland China |
| Key people | Charles Li (Chairman) |
| Website | microconnect |
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. The company aims to provide financing for micro and small businesses across mainland China and operates a platform for trading revenue obligations.
Services
MicroConnect provides financial services through a unique model that combines micro-financing with data analytics to support small businesses, particularly in China. The company utilises information technology to collect and analyse data from a vast network of small businesses. This data helps assess the financial health and growth potential of these businesses, enabling MicroConnect to offer tailored financial products and services that meet their specific needs.
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)". This innovative approach involves securitising the revenue streams of small businesses, such as noodle shops and karaoke bars.
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. 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.
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.
- ^ 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.
- ^ 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.
- ^ Clere, Alex (2023-08-03). "Micro Connect: Boosting China's SMEs". FinTech Magazine. Retrieved 2024-08-13.
- ^ 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.
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