Fintech Unicorn Fumi Technology Completes New Round of Funding
COVID-19 and China
Founder and CEO of Fumi Technology. Image credit: EO Company

Fintech unicorn Fumi Technology (福米科技) has completed a new round of funding worth CNY 250 million (USD 36.6 million), with Gopher Asset leading this round of strategic investment.

Fumi Technology is a world-leading fintech company in the security market. It provides security trading and data services based on a panoply of complete intellectual property and applications on PC and mobile phone. Founded in 2016, Fumi Technology has finished three funding rounds of CNY 50 million, CNY 120 million and CNY 200 million, respectively.

Wang Anquan (王安全), founder and CEO of Fumi Technology, said that the money raised will be applied to product upgrade and R&D, in an effort to continuously promote the globalization of the company.

WEBULL FINANCIAL (微牛证券) is a Fumi Technology affiliate and licensed securities broker in the United States with an office on Wall Street. It has established close partnerships with 55 securities exchanges, index companies and traders in more than 43 countries and regions worldwide. 

The company deploys two big data centers in China and the US. The market data of WEBULL is transmitted through a special cable and updated in milliseconds. Its Global Data System can track real-time transactions in more than 90 countries/regions, 106 exchanges and over 1,000,000 underlying assets, covering stock, bonds, funds, foreign exchange, digital currency, derivatives and other categories.

At present, WEBULL has opened online accounts and started trading services in securities markets of the US, Hong Kong, Canada, Singapore, the United Kingdom, Germany, France, Italy, Sweden and so on. It can trade stocks, exchange-traded funds, differential contracts, among others. With an ID card or passport, one can complete the application for a free online account in one minute and become connected to a global network of transactions.

In addition to financial innovation, WEBALL also attracts users the world over with its localized reading and interactive functions. At present, its mobile and PC application supports more than 10 languages, including Chinese (simplified and traditional), English, Japanese, French, Italian, Malay, Thai, Indonesian, Spanish and Portuguese, and more will be added to the list in the future.

Wang said the latest strategic investment will yield a win-win outcome. The parent company of Gopher Asset – Noah Financial Wealth Management – is China's leading wealth management organization, providing services for high net worth individuals. By contrast, Gopher Asset is more focused on asset allocation and absolute return on investment. The technology and services of Fumi will help complete Noah Financial's ecosystem, and vice versa.

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