GF Xinde Investment Leads $16M Series A For Touna

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 and GF Xinde Investment, a subsidiary of GF Securities Co., Ltd. Aside from the capital injection, GF Xinde will also help on talent recruitment, government relations and business expansions.

Launched in 2012, 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 raised US$130 million in series A funding led by Trustbridge Partners.

In February, Shanghai-based peer-to-peer (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. Also, Beijing-based P2P platform received tens of millions U.S. dollars series A funding from Ventech China,

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


China Expert Network
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