Hong Kong Fintech Ecosystem Report

PART II: FINDINGS FROM 2024 HONG KONG FINTECH ECOSYSTEM SURVEY 27 Exhibit 2: Headquarter Locations of Surveyed Fintech Companies Exhibit 3.1: Revenue Stage of Surveyed Fintech Companies Exhibit 3.2: Latest Fundraising Stage Achieved by Surveyed Fintech Companies Canada United States Mexico France Mainland China New Zealand Korea Hong Kong Malaysia Singapore United Arab Emirates Estonia A majority of the surveyed fintech companies (79.2%) are in the post-revenue stage, while 7.7% are in the proof-of-concept phase (i.e., with only non-paying clients) and 13.1% are in the pre- revenue stage. Although these companies vary in their latest fundraising stages, most (42.3%) are in the bootstrapped/pre-seed fundraising stage and about 3% being publicly listed. Exhibits 3.1 and 3.2 illustrate the distributions of the revenue stage and the latest fundraising stage achieved by these companies. Pre-revenue 13.1% Proof of concept (PoC)(with non-paying clients only) 7.7% Post-revenue (with paying clients) 79.2% Bootstrapped / Pre-seed 42.3% Seed 27.7% Series A 16.2% Series B 5.4% Series C 3.1% Publicly Listed 3.1% Series D+ 2.3%