
Shenzhen-based installment payment e-commerce platform Fenqile has received a strategic investment from e-commerce platform JD.com. The two parties plan to work together to create better online financial services to China’s youth, according to a statement posted on Fenqile’s Weibo account.
No specific deal terms were disclosed.
Fenqile has sourced its products from JD.com since its founding in 2013. The strategic investment will expand the two parties cooperation to include supply chain management, risk management, and financial products.
Fenqile targets China’s colleague students, allowing them to purchase trendy electronics with installment payments.