IDG, SIG Asia Leads $110M Funding Round In P2P Firm 9fbank


Beijing-based P2P (peer to peer) lending platform 9fbank has completed US$110 million new round of financing led by IDG Capital Partners and SIG Asia, according to a company announcement.

Other individual investors and Chinese investment firms also participated in the round, which was completed at the beginning of this year and included US$20 million of shares sold by existing shareholders.

The company says it will use the proceeds on building up its big data systems, strengthen human resources, and continuing to improve its mobile Internet finance platform.

Founded in 2006, the company received RMB10 million angel investment that year. It raised US$3 million from an undisclosed company listed on the Hong Kong Stock Exchange, according to the statement.

Caishen.Co - Primary Data for China Secondary Investment and Stock Markets
 
Caishen.Co - Primary Data for China Secondary Investment and Stock Markets

RELATED NEWS



LEAVE A REPLY