Beijing-based financial technology start-up iTouzi has raised RMB250 million (US$36 million) in a series B funding round from a Chinese company Sino Fortune and an individual investor, the company announced on its website.
Sino Fortune is an investment holding company with control of two listed Chinese firms, Shenzhen-listed Hunan Tianrun Digital Entertainment & Cultural Media Co., Ltd. and Shanghai-listed Tianjin Quanyechang (Group) Co., Ltd.
The individual investor is Sun Jiexiao, who controls Shenzhen-listed Suzhou Chunxing Precision Mechanical Co., Ltd.
Founded in 2013, Beijing-based iTouzi previously raised US$10 million in a series A round in 2015 from Delta Capital, a growth equity investment firm in China.
Different from other P2P (peer-to-peer) lending start-ups, iTouzi focuses on providing fundraising and guarantee services to small and medium enterprises, in what it calls P2C (peer-to-corporation) business model.
The company claims to have facilitated transactions totaling RMB21.6 billion cumulatively.
Delta Capital, established in 2010, manages five RMB funds and one U.S. dollar fund with RMB3 billion total assets under management.
