Shicaidai.Com Receives $16M Series A Funding

Xiamen city, Fujian province-based Chinese Internet finance firm has received US$16 million series A financing from Ruo Shui He Tou, a Chinese venture organization, according to Chinese media reports.

The investment is part of a strategic partnership being established between the two entities.

Founded in 2014, provides P2B (person to business) Internet financial products including loans and wealth management products.

Numerous Chinese Internet finance start-ups have received venture backing. Last December, Shanghai-based financial service provider DianRong received tens of millions U.S. dollars from Northern Light Venture Capital.

In January, Beijing-based P2P (peer to peer) lending platform raised US$130 million in series A funding led by Trustbridge Partners.

In February, Shanghai-based P2P lending firm received tens of millions U.S. dollars series B funding from Sequoia Capital, after getting US$25 million series A from Sequoia in September 2012.

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