Legend Capital Leads Series B Financing Round In Tongbanjie

Hangzhou-based Chinese mobile financial app Tongbanjie has received close to US$50 million in series B financing led by Legend Capital, according to the company announcement.

Existing investors China Growth Capital and IDG Capital Partners also participated in the latest round.

Launched in 2012, Tongbanjie completed over US$10 million series A financing led by IDG Capital Partners last December.

The company received its angel round from China Growth Capital.

Tonbanjie, which means "the street of copper coins" in Chinese,  provides more than ten funds and insurance products and currently cooperates with several professional institutions including Fund123 and Guohua Life.

Its transaction volume totaled over US$1 billion as of this June, according to its website.

China Expert network