Venture-Backed Qufenqi.Com Completes New Funding Round


Beijing-based installment-based online shopping platform Qufenqi.com has completed a new round of financing from undisclosed investors, according to Chinese media reports citing the company’s CEO.

Launched in March 2014, Qufenqi.com has completed five funding rounds in less than 18 months.

It received series A investment from BlueRun Ventures; and series B funding from Source Code Capital, Golden Summit and BlueRun Ventures in April and August 2014.

Source Code Capital and BlueRun Ventures invested in its series C round in December 2014.

The company then completed series D funding in March 2015, led by Chinese online gaming developer Beijing Kunlun Technology Co., Ltd., with participation from BlueRun Ventures and Source Code Capital.

Qufenqi.com’s platforms offer computers, electronics, cameras, and outdoor products targeted at Chinese university students, allowing them to pay for items with installments.

The company says it has over three million users, with most of them college students.

Another similar platform, Shenzhen-based Fenqile, received an undisclosed strategic investment from e-commerce platform JD.com Inc. in March.

 
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