Hong Kong's FinTech Unicorns: The Full List

Of the roughly 620 active FinTech companies we track in Hong Kong, 8 have reached a valuation of $1 billion or more — a roster that spans an unusually wide range of business models, from brokerage and payments to virtual banking and digital assets.
► View the complete list of FinTechs and our interactive map with all details.

The current list

Ranked by their last recorded valuation, in US dollars:

• Futu Securities International — $17.5bn — Capital Markets
• Airwallex — $8.0bn — Payment and Remittance
• FWD — $4.6bn — Insurance
• WeLab — $2.0bn — Banking Software and API
• Micro Connect — $1.7bn — SME Finance
• HashKey — $1.0bn — Blockchain and Digital Assets
• FinVolution — $1.1bn — Data Analytics and AI
• ZA Bank — $1.0bn — Banking

Four of the eight are publicly listed companies, and their valuations here reflect market capitalisation rather than a private funding round: Futu Securities International on Nasdaq (NASDAQ: FUTU), FWD on the Hong Kong Stock Exchange (HKEX: 1828), HashKey on the Hong Kong Stock Exchange (HKEX: 3887, since December 2025), and FinVolution on the New York Stock Exchange (NYSE: FINV, since 2017).

A wide spread, by design

What stands out in Hong Kong's unicorn list is its breadth rather than its concentration. Where many ecosystems cluster around one or two dominant categories, Hong Kong's eight unicorns span capital markets, cross-border payments, insurance, core banking infrastructure, SME finance, digital assets, and virtual banking. ZA Bank, launched in 2019 as one of Hong Kong's eight licensed virtual banks, is the youngest company on the list and the only one built from a banking licence rather than a technology layer on top of existing financial infrastructure.

That diversity reflects Hong Kong's dual role as both a domestic financial centre and a gateway connecting Mainland Chinese capital and companies to international markets — a positioning visible in Futu's brokerage model and FinVolution's pan-Asian credit business alike. It also shows in how half the list has already taken the step to public markets, across three different exchanges.

A note on methodology

We flag a listing as a unicorn when its recorded valuation is at or above $1 billion. Valuations reflect the last publicly reported figure for each company and are not updated in real time between funding rounds; a company's actual current valuation may differ.

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