China's Tiger Brokers, also known as Up Fintech Holding Ltd, is planning to double its revenue in Singapore over the next one to two years. The company is shifting its focus away from the Chinese market after facing regulatory restrictions and criticism. Tiger Brokers sees Singapore as a central pivot for internationalization and aims to tap into the country's market for growth. The firm holds brokerage licenses in Singapore, the US, Australia, and New Zealand, and currently services 2.2 million clients globally. About one in every three adults in Singapore is a registered user of Tiger Brokers, highlighting the company's strong presence in the country. In 2023, Tiger Brokers reported total revenue of US$272.5 million, with client assets more than doubling to US$30.6 billion. Despite the regulatory challenges, Tiger Brokers remains in close communication with Chinese regulators and plans to comply with any upcoming rules regarding cross-border trades.
Longbridge Group Singapore has secured over USD $100 million in additional funding from various investment institutions, following its Pre-A round. The company has accumulated over USD $100 million in total financing. With this new funding, Longbridge Group plans to accelerate its global market expansion, focusing on Asian markets and extending its reach to Europe, the Americas, and the Middle East. Longbridge Group received USD $10 million in Pre-A round financing in May 2021. It has obtained over 21 financial compliance licenses and qualifications across Asia. Longbridge Group's securities business, 'Longbridge,' offers high-quality products at affordable prices and has become the fastest internet broker to enter the Top 100 in trading volume on the Hong Kong Stock Exchange. Its technology business, 'Longbridge Whale,' has gained favor among numerous brokers in Asia with its 'Securities as a Service' concept. Longbridge Group has offices in nine locations globally and aims to become a leader in fintech innovation worldwide.