DST Global Leads Series B Round In E-Commerce Platform Fenqile

Shenzhen-based installment payment e-commerce platform Fenqile has completed undisclosed series B round of financing led by DST Global, an investment firm founded by Russian businessman Yuri Milner, according to Chinese media reports.

Existing investors China Renaissance K2 Ventures, Matrix Partners China, and Bertelsmann Asia Investments also participated.

The financing round amounts to as much as US$100 million, and values the one-year old company at several billion RMB, according to the unconfirmed media reports.

The company says it will use the proceeds on marketing, technology upgrades and brand building.

Founded in 2013, Fenqile targets colleague students, allowing them to purchase trendy electronics with installment payments.

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