Waffo Hong Kong Limited announced that it has received $30 million in funding from Illuminate Financial Management Ltd, Gaorong Capital, HSBC Holdings plc, Bai Capital Management Limited
Waffo Hong Kong Limited announced that it has raised $30 million in a round of funding Co- led by new investor Illuminate Financial Management Ltd and returning investor Gaorong Capital on February 4, 2026. The transaction included participation from new investors HSBC Holdings plc, Bai Capital Management Limited. The Company issued convertible preferred stock in the transaction.
HSBC Holdings plc is one of the world's leading banking groups. Revenues break down by activity as follows:
- retail banking and wealth management (42.3%): sales of classical and specialized banking products and services (consumer loans, leasing, factoring, private card management, etc.) and wealth management;
- commercial banking (31.8%) ;
- investment, financing and market banking (25.9%): operations on the capital markets, operations on rates, change rates and natural resources, merger and acquisition consulting, initial public offerings, capital investment, specialized and unionized financing solutions, etc.;
At the end of 2024, the group had USD 1,654.9 billion in current deposits and USD 930.6 billion in current credits.
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Waffo Hong Kong Limited announced that it has received $30 million in funding from Illuminate Financial Management Ltd, Gaorong Capital, HSBC Holdings plc, Bai Capital Management Limited
