Magnum Research Limited Received Series Pre-B Funding

May 6, 2020 | AQUMON | Portfolio
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We are pleased to announce that Magnum Research Limited has concluded its Series Pre-B round of financing at the end of March, 2020. This round of funding attracted 5 investors, including Lenovo CapitalAlibaba Entrepreneurs FundWing Lung Family Office, Hong Kong Government-backed Cyberport, and Plaxo. Notably, Alibaba Entrepreneurs Fund has participated in all of the three investment rounds, after it led our Series A in 2017.

Although the number of investments by venture capitals has plummeted by 73% in the first quarter of 2020, Magnum remains an attractive target for many investors because of our belief in the digitization of wealth management practices. Having established B2B and B2C business lines both in and outside Mainland China, Magnum is more insulated from the substantial macro risks we have undergone since the second half of 2019. With the recent COVID-19 pandemic, our diversified portfolio of businesses allows us to stand apart from our competitors.

Amid the pandemic, our B2C Robo Advisor has experienced a 317% increase in account openings compared to the previous quarter. Our counterparts in the U.S., such as TD & Wealthfront have also seen 150% & 68% increases in account openings, indicating that this pandemic has accelerated the digitization process for the industry globally. AQUMON will continue to ride the wave and earn trust from clients through our digital wealth management products.

Through four years of development, our B2B business has reached a leading place in Asia both in terms of the number of clients we cover, and in the quality of our clients. Magnum’s ongoing projects include CMB Wing Lung Bank, AIA, Bank of China International, Guangzhou Rural Commercial Bank, China Resources Bank, and ChinaAMC. We continue to receive substantial interests from Banking, Brokerage and Insurance clients, whose traditional business practices are heavily impacted by the recent situations. At the same time, we prioritize refining our B2B products by making them easier, faster, and cheaper to implement via cloud-based development methods.

Due to earlier interventions, Mainland China is ahead of the world in rebooting its economy. Not only will our onshore China business benefit from this early recovery, our extensive investment algorithm library also allows investors to access this market easily.  We believe that our expertise in providing less correlated asset returns from both China and other parts of the world will help investors better navigate this period of extreme uncertainty.

Looking forward with this new injection of capital, we will continue to invest in four of our core business lines, and to focus on acquiring high-quality talents for Investment Research, Business Development, and Product Development.

We firmly believe that our work will allow clients to benefit from the growth of the economy, no matter how much money they have, or how little they know about investment. The industry in which we operate features high entry barriers, because of the need to integrate Financial Investment skills, Algorithm Development capability, and IT knowledge. This entry barrier, combined with our full regulatory accreditations, will yield almost infinite possibilities. With your support and Magnum’s “Do More” spirit, we will soon make these possibilities a reality.


Kelvin Lei & Don Huang
Co-founders
Magnum Research Limited