Trucpal STO Secures Cornerstone Investment from famous VC Firm Beyond Ventures
Hong Kong,May 11, 2022. WeHGC (Xiamen) Info Tech Limited(HGC), the first Chinese company to offer a global security token (“STO”) under US securities laws. Today HGC is pleased to announce that it has received a cornerstone investment from Beyond Ventures, a well-known Hong Kong-based venture capital firm. The investment will further support HGC’s Security Tokens(Trucpal Token) global offering and successful listing.
HGC offers an innovative freight service SaaS platform in China and an innovative company in China’s freight industry. Through its high-speed growth and industrial innovation over the past 8 years, HGC has become a leading service provider in China’s digital freight market. The strategy of HGC is to build a sustainable competitive advantage in the logistics industry through continuous innovation in business models, especially by blockchain technology, through building the open platform,integration of token economy and compliant operations.
HGC believes that China’s market for trucking logistics is characterized by high fragmentation, low transparency, underutilization of assets, costly manual processes and cumbersome taxation and compliance processes.HGC has designed the Trucpal platform to offer opportunities for process improvement, digitalization, financial management and compliance for truckers, cooperatives, shippers and financial providers, etc.
In addition, by meeting the compliance requirements in China/USA, Trucpal Token is based on the revenue of the new transportation ecosystem built by HGC, and distributes a certain percentage of every transaction and service fee charged on the Trucpal ecosystem to Trucpal Token holders, which enables the many users and service providers in the Trucpal ecosystem to share the dividends. At the same time, Trucpal Token, as the first Chinese Security Token issued and listed on the U.S. compliant STO Exchange,which is backed by real income from the real economy, will create a new business ecosystem model that will provide a great demonstration and promotion for the industry.
Beyond Ventures aims to help startups break through funding constraints and lead them to breakthroughs. Beyond Ventures is highly impressed with the HGC team’s extensive development and operation experience in the freight market and the future potential of the security tokens economy, and believes Trucpal is well positioned to achieve its goal of digital upgrading of China’s freight market and bring change to the industry.
Wendong Zhang, Founder of HGC: “Trucpal Token, as the first security token for the Chinese freight market, will bring tens of millions of users financial rewards after its listing. With the new Trucpal platform and Trucpal token economy, Trucpal will finally achieve its goal of digital upgrading the Chinese freight market. We highly appreciate the investment from Beyond Ventures, the cooperation between Beyond Ventures and HGC will help facilitate faster growth of Trucpal ecosystem and bring us more resources worldwide”.
Lap Man, Co-founder and Managing Partner of Beyond Ventures, said, “We believe that the world of cryptocurrencies and tokens will gradually become regulated in various global financial markets. Securitized tokens are a good direction and a new incentive model for platform businesses. It is an innovative move for HGC to use the Trucpal Token as a fundraising tool for the Trucpal platform business. Beyond Ventures is actively exploring future investments in the W3, blockchain and crypto space.”
About HGC
HGC offers an innovative freight service SaaS platform in China and an innovative company in China’s freight industry. Through its high-speed growth and industrial internet innovation over the past 8 years, HGC has become a leading service provider in China’s digital freight market. The strategy of HGC is to build a sustainable competitive advantage in the logistics industry through continuous innovation in business models, especially by blockchain technology, through building the open platform,integration of token economy and compliant operations.
Please visit https://www.wehgc.com/ for more information.
About Beyond Ventures
Led by Lap Man and Marvin Hung, Beyond Ventures is a Hong Kong-based venture capital firm. Started in 2017, Beyond Ventures is recognised for the support it gained from well-known Hong Kong listed companies including Hop Hing Group, Far East Consortium, and Chinney Alliance Group, as well as leading private equity firms Hony Capital and GAW Capital and Hong Kong VC firm eGarden.
The name “Beyond Ventures” originates from the popular rock-and-roll band Beyond, which emerged in early 1990s Hong Kong. We aspire to revitalize and transform the city’s innovation ecosystem by being Hong Kong’s most impactful venture capital firm. By uniting venture capital experts and local conglomerates with visionary entrepreneurs, we provide startups with the capital and guidance they need to thrive.
Our portfolio companies include SenseTime, Smartsens, Prenetics, YOHO, HKTaxi and more.
Please visit www.beyondventures.hk for more information.
ABOUT STO
STO — Security Token Offering, is to issue security tokens under a legal and regulatory framework. In general, STO is a low-cost, high-efficiency, high-liquidity global finance tool that meets regulatory requirements and makes full use of the features of blockchain technology in the financial area. STO has the following advantages: i.e. free cross-jurisdictional liquidity, automated management at the protocol level, 24-hour trading, smaller trading units and overall better liquidity. STO makes public issuance of assets more cheaper and more efficient. STO eliminates the need for intermediaries and therefore simplifies procedures, saves time, increases speed, reduces costs and is more suitable for innovative and high-tech SMEs than IPO in terms of financing efficiency, time,cost,location and information symmetry.
