United Kingdom Fintech company Fraedom announced on the 28th of July that it has opened its first Asian office in Hong Kong, leveraging the city’s fast-growing Fintech ecosystem and strategic location to gain access to the Mainland market and expand throughout the Asia-Pacific region.
Fraedom develops cloud-based payment, expense and travel technology solutions, offering partners a one-stop solution from online booking and managing expenses to initiating and controlling business-to-business payments. Its technology helps companies control and manage their business spending by making the process easier, simpler and faster. Fraedom’s solutions help ensure policy compliance and also maximise the value and reach of commercial card programmes, said its Commercial Partnerships Director of Asia, Mr Gareth Parrington.
“Fintech is booming in Hong Kong and Fraedom is firmly positioned within the Fintech ecosystem to provide its payments, expense and travel solutions to both banks and corporates. We can see a new wave of collaboration between established banking institutions and innovative Fintech companies such as Fraedom. Hong Kong is the best place to witness this development, with a vast number of multinational businesses in the city that provides huge opportunities.
“It is a strategic decision for us to have a presence here instead of other Asian cities. Hong Kong has a unique geographic location both at the doorstep of Mainland China and at the heart of the region. It also offers a thriving pool of talent in the financial services industry that will help fuel our growth. Having a base here will help us serve existing clients and reach out to new ones in the Mainland market and across the region,” said Mr Parrington.
Associate Director-General of Investment Promotion Mr Charles Ng said, “Hong Kong is a traditional financial hub and we are moving fast to become a preferred Fintech hub in Asia as well, thanks to our strong financial advantages and our strength in technology applications. I am delighted to see Fraedom making use of our proximity to the Mainland market and choosing Hong Kong as its regional base, a decision that will pay off for the company in the long run.”