Morrison & Foerster LLP advised Hong Kong-based financial services and technology company Oriente on its US$105 million initial funding round. The deal is reported to be one of the largest initial funding rounds by any startup in Asia, and also for a FinTech company worldwide. The investors comprised a group of family offices including members of Malaysia’s Berjaya Group, the Philippines’ JG Summit Holdings, Inc., and Indonesia’s Sinar Mas.
Founded in 2017 by Skype’s co-founder, Oriente is developing a cutting-edge, inclusive financial services infrastructure for people and small businesses. MoFo has previously advised Oriente on a series of recent expansions in Southeast Asia, including two joint ventures – Cashalo in the Philippines with JG Summit, and Finmas in Indonesia with Sinar Mas.
The MoFo team representing Oriente was led by Hong Kong partner and co-head of the firm’s Asia private equity practice Thomas Chou, and included Singapore partner Jake Robson and Hong Kong partner Gordon Milner. Associates Nicholas Davies (Singapore) and Gigi Yuen (Hong Kong) provided crucial transactional support.
MoFo enjoys a reputation of helping drive the success of innovative companies around the globe and advising emerging companies at every stage of their evolution. We currently have more than 170 partners and other lawyers in our Emerging Companies + Venture Capital practice working with more than 1,000 leading startup businesses and their funders.
Long recognized as a leading technology and financial services firm, MoFo was recently ranked as a leading firm in Hong Kong and Singapore in the Chambers FinTech Guide 2019 in its inaugural Asia coverage, and ranked Band 1 by Chambers Asia in TMT: Information Technology in China.