HONG KONG SAR - Media OutReach - 24 November 2020 - FinLink Technology Limited, a data-driven, AI-enabled technology startup company engaged in cross-border financial services, today announced that Garuda Capital Asia Limited, a leading investment firm focusing on venture capital and growth investing in Asia Pacific, has acquired a significant minority interest in the company via an affiliated investment fund. This acquisition follows a previously unannounced $2.5M seed round led by PF Ventures and Garuda Capital in 2019.

Founded in 2017 in Hong Kong and China, FinLink has built up a proprietary cross-border payment and clearing engine serving small businesses in Asia, facilitating accounts payable management, receivable financing and collection. With its AI-driven software-as-a-service platform, FinLink has achieved $800M transaction volume in 2019, creating value for customers across 55 countries globally from sectors such as e-commerce, trading, tourism, logistics and etc.

"Following the acquisition, FinLink will realign its strategic focus towards strengthening data analytics and artificial intelligence capabilities," said Huang Peng, co-founder and CEO of FinLink. "With even stronger backing from shareholders, we can focus on developing innovative products and solutions for our regional clients by leveraging on existing customer relationship."