Shenzhen-based Chinese P2P (peer to peer) lending platform Touna has received series A financing worth up to RMB100 million (US$16 million) from GF Xinde Investment Management Co. Ltd., according to a company announcement.
The investment is part of a strategic partnership between Touna.cn and GF Xinde Investment, a subsidiary of GF Securities Co., Ltd. Aside from the capital injection, GF Xinde will also help Touna.cn on talent recruitment, government relations and business expansions.
Launched in 2012, Touna.cn has recorded a cumulative and combined transaction value of RMB1.7 billion (US$270 million), according to its website. Its name means "where to invest" in Chinese.
Numerous Chinese Internet finance start-ups have received venture backing lately. Last December, Shanghai-based financial service provider DianRong received tens of millions U.S. dollars from Northern Light Venture Capital.
In January, Beijing-based peer-to-peer (P2P) lending platform Renrendai.com raised US$130 million in series A funding led by Trustbridge Partners.
In February, Shanghai-based peer-to-peer (P2P) lending firm Ppdai.com 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. Also, Beijing-based P2P platform Jimubox.com received tens of millions U.S. dollars series A funding from Ventech China,
In June, Xiamen city, Fujian province-based Chinese Internet finance firm Shicaidai.com received US$16 million series A financing from Ruo Shui He Tou, a Chinese venture organization.