Hong Kong team advises Riverchain on US$5 million Series A funding for construction finance expansion

Our Finance and Corporate team has advised Hong Kong-based fintech company Riverchain on its US$5 million Series A funding round.

Riverchain provides working capital solutions tailored for the construction industry to drive growth. It started its Series A funding round led by Betatron Venture Group, a venture capital fund supporting early-stage B2B tech startups innovating in Asia’s largest industries. The funding will support the company’s expansion across Hong Kong and Southeast Asia as well as continued investment in its origination and distribution technology capabilities.

Since January 2024, Riverchain has deployed over US$100 million in capital, supporting 115 public and private projects in Hong Kong including the Northern Metropolis and landmark developments such as Kai Tak Sports Park, a multi-purpose stadium on the site of the former Kai Tak Airport in Kowloon.

On the transaction, we acted as offshore counsel to Riverchain, advising on bespoke issues from a BVI law perspective. We were intricately involved with the project, from the provision of pre-inception structuring advice to the review of transaction documents and preparation of amended and restated constitutional documents, to assisting with closing in a tight timeframe.

Our team was led by Hong Kong Partners Jessica Lee and Paul Christopher, with support from Jesslyn Leung and Elsie Ma. We worked in close collaboration with instructing onshore counsel Stephenson Harwood.

Jessica said:

This transaction highlights the ability of our team in tackling complex venture capital financings within tight timeframes, while ensuring robust structuring and compliance from an offshore perspective. We are proud to have supported Riverchain in achieving this latest milestone, which will accelerate its growth and innovation in the construction finance space across Asia.