Huasheng Capital Joins $235M Series D Round In Fenqile


Huasheng Capital, a venture capital unit of local investment banking firm China Renaissance Partners, CoBuilder Partners and an unnamed Chinese insurer have led a US$235 million series C round investment in Fenqile, a Shenzhen-based installment payment e-commerce platform targeting young Chinese consumers.

The round has not officially closed, says Chinese media reports, and the identities of other participating investors will be announced soon.

The latest round will provide capital for the company to expand its target consumer groups from students to blue and white collar workers.

Established in 2013, Fenqile previously received a series A round frm Matrix Partners China in early 2014.

In December 2014, the company completed a US$100 million series B round from DST, Bertelsmann Asia Investments and other investors.

In 2015, Fenqile received an undisclosed amount of strategic investment from e-commerce platform JD.com

The latest round will provide capital for the company to expand its target consumer groups from students to blue and white collar workers.

The company claims to have over 10 million users with operations across the country in all of its over 30 provinces.

Huasheng Capital focuses on investing in China’s "New Economy", having previously invested in Lianjia, a Chinese O2O (online-to-offline) real estate agency service provider.

 

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