AI FinTech startup Trend Lab hits the unicorn mark with HK$100 million angel round valuation

HONG KONG, Jan. 16, 2018 /PRNewswire/ -- Across the globe, the internet finance industry is developing rapidly with the rise of technologies like Electronic Payments, Cloud Computing, Big Data, Block Chain and Artificial Intelligence (AI). However, these technologies are still in their infancy in Hong Kong and the broader Asia Pacific region. In light of this, Mr. Tin Mok, founder and CEO of Trend Lab, has gathered talents from various leading internet technology companies in the Guangdong-Hong Kong-Macao Greater Bay Area. With its official establishment, the new AI FinTech startup Trend Lab will focus on developments in Big Data and AI to provide high-end technologies for FinTech industries across Asia Pacific. Meanwhile, Trend Lab will also become a strategic technology partner of EFT Solutions (HKSE: 8062) and 18 Financial Group Limited. Working with the latest AI technologies, Trend Lab will promote the development of the finance industry in the region, working together with traditional financial practices to build a new industry system with reduced operational costs that will increase corporate financial value with enhanced capital efficiency.

Leading Internet Finance into 4.0 era by acquiring own AI FinTech capabilities

Mr. Tin Mok, founder and CEO of Trend Lab is ambitious about developing Big Data and AI systems: "The application of AI technology in the FinTech industry across the Asia-Pacific region is still in its embryonic stage, and most technologies - including smart customer service, Big Data analysis, customer relations management, enterprise resource planning, business acquisitions, electronic payments, corporate credit rating systems and more - require a high degree of integration to unleash their full corporate value. Of these, Big Data, Block Chain and AI are integral to a successful and progressive FinTech industry, allowing for the analysis of huge amount of information, for example, hard data like consumers' income and soft data like consumers' behaviour, to provide credible insights that will, in turn, optimise the value chain. With more data and increased computing efficiency, AI technology can establish new and more accurate monetary and financial systems for corporates to better understand consumers' needs, as well as more efficient services for micro, small and medium-sized enterprises. Instead of financial informatisation, we target to translate current financial systems into smart systems, exploring the unseen values and opportunities for businesses. We are poised to witness a revolution of the financial industry, which will integrate the segregated front, middle and back office vertically, leading the financial industry into a new, 4.0 era of rapid development growth."

Hitting unicorn mark with the highest angel round valuation in Hong Kong in 86 days

Mr. Tin Mok continues: "The establishment of Trend Lab was incredibly smooth and took just 86 days. We are honoured to have recruited talents with experience in Big Data, AI technologies and internet finance, with a core team of professionals from leading technology companies like Tencent, 360 and DJI, all of whom possess mature AI computing knowledge and Big Data analysis experience, as well as a thirst for innovation. Under the lead of former LeEco management executives and professional talents, it is believed that Trend Lab will first develop its own Big Data and AI technologies, and, together with the application of block chain, cloud systems and SaaS in the financial industry in Asia-Pacific, a new internet finance system will be built."

SOURCE Trend Lab