FinLink Announces Acquisition of Minority Stake by Garuda Capital

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."

About FinLink
Founded in Hong Kong with offices in Hong Kong and Shenzhen, FinLink is a technology startup specializing in data analytics and artificial intelligence application development, in particular for the financial services sector.

About Garuda Capital
Garuda Capital is an investment firm that specializes in venture capital and financial advisory for early- and growth-stage companies in Asia Pacific. The firm currently has offices in Hong Kong, Singapore, and Shanghai.