HK-based Peak Group to extend investments in Indian FinTech space
Companies that Peak invests in, such as online personal financing platform CashMama, are at the forefront of the technological innovation and have led to profound impact on the traditional economy in India.
February 27, 2020 / 07:05 PM IST
Peak Holding Group Limited, a leading investment firm in the Venture Capital and Private Equity space in Asia, announced its investment strategy for 2020 and beyond, and reaffirmed its strategic focus on the Indian market.
“Peak Group has come a long way in the past 10 years, spanning our investment footprint in big data, blockchain, artificial intelligence and other areas in Greater China and Singapore. Our understanding in the FinTech space deepened, our network within the ecosystem expanded and we achieved a highly successful investment track record. As the new decade unfolds, we aim to capitalize on our resources and expertise in cyber security, cloud service, digital marketing and mobile payment, and extend our strategic focus to India,” Anthony Wong, Chairman and CEO of Peak Group, said.
Peak Group started to make private equity investments in India’s promising FinTech companies since 2019. One of its investments was in CashMama, a mobile financial technology platform that provides users with convenient and fast financing services.
“The technological disruption in the Indian economy reminds me of what happened in China 10 years ago. Despite the economic cycles, India is still one of the fastest growing economies in the world. It’s openness to technology, especially the adoption of FinTech, has led to revolutionary changes in finance, consumer and many other industries. We see substantial opportunities in the Indian market. Having witnessed many successes and failures in the development and commercialization of similar new technologies in other parts of Asia, we can add tremendous value to both the companies we invest in as well as the consumers and tech users in India as a whole,” Wong added.
Wong founded the Peak Group in 2008 in Singapore. As big data, blockchain and artificial intelligence increasingly penetrate the real economy and transform many aspects of people’s lives, Peak Group’s investments have been increasingly focused on these areas. Its investment portfolio proudly features some of the most successful names in Asia such as Grab, WeDoctor, Duiba and several other promising companies in gaming, digital marketing, blockchain, fintech and cybersecurity