P2P Financing Platform Jimubox.com Receives Series A Financing

Beijing-based P2P (peer to peer) lending platform Jimubox.com has received tens of millions U.S. dollars series A funding from Ventech China, according to Chinese media reports.

The company says it will use the proceeds to expand its market share, strengthen its core teams and enhance risk management.

Launched in last August, Jimubox, which means building block box in Chinese, provides peer-to-peer loans and other financial services to small and medium enterprises in China.

According to the company’s website, Jimubox has loaned a total of RMB280 million since its inception, with loan interest charges ranging from 9% and 12%.

Founded in 1998, France-based Ventech Capital manages four funds in Europe and two funds in China, with total asset under management of 750 million dollars. The fund focuses on sectors in IT, consumer upgrades, educational services, and life sciences sectors.

Ventech’s first China fund has a US$100 million, and its second fund manages US$150 million.

Recent deals in the Internet lending sector include Yooli.com’s tens of million dollars series A funding from SoftBank China Venture Capital last November, and Northern Light Venture Capital’s tens of millions U.S. dollar investment in DianRong the following month.

Last month, Renrendai received US$130 million series A funding led by Trust Bridge Partners. Earlier this month, Sequoia Capital invested tens of millions U.S. dollars in Ppdai.

China Expert network