Shanghai-based peer-to-peer lending platform Dianrong, which raised over half a billion U.S. dollars previously during more exuberant times, has just received a US$40 million investment from Dalian Finance Industry Investment Group (DFIIG), according to a company announcement.
Chinese big data fintech firm Advance.ai announced completion of a US$50 million series B+ round from China’s Vision Capital, GSR Ventures, Zhen Fund and others.
Sina-backed Fintech Firm Pintec Technology Holdings Ltd., has filed for a US$70 million initial public offering on Nasdaq, according to its prospectus.
The past two months have seen an army of Chinese online peer-to-peer lending platforms go sour due to tightened regulation and liquidity crunch.
Alibaba’s financial affiliate Ant Financial has made a US$120 million series D round in Chinese financial information service provider Xueqiu, according to the latter’s announcement.
CICC Capital, Bank of China Group Investment Ltd, CITIC Securities-backed China Securities and CITIC Capital have agreed to invest a RMB13 billion (US$1.9 billion) series B round in Chinese e-commerce giant JD.com’s financial services spin-out JD Finance.
Xiaomi-backed online stock brokerage start-up Tiger Brokers announced that it has completed a US$80 million series C round from Prospect Avenue Capital (PAC), Orient Hontai Capital and Oceanpine Capital.
Hong Kong-based tycoon Li Ka-Shing’s mobile lending start-up, WeLab, has filed for an initial public offering on the Hong Kong Stock Exchange, according to its IPO prospectus.
Chinese peer-to-peer lending platform Furongbao announced that it has received a RMB800 million (US$120.6 million) series B round, strategic investment from a controlling shareholder of Wanjiale Gas Appliances, a Chinese household appliances manufacturer.
Alibaba’s financial affiliate Ant Financial is close to a deal to invest US$100 million in Chinese financial information service provider Xueqiu, according to Chinese local media citing insiders.
Airwallex, a Melbourne-based fintech company that provides cross-border payment solutions, announced that it has completed a US$80 million series B round participated by existing investors Tencent and Sequoia Capital China.
Sequoia Capital China has joined Singaporean sovereign wealth fund GIC to invest US$40 million round in Viva Republica, Korea’s fintech startup and maker of financial services app Toss.
Beijing-based fintech company 9f Group announced that it has raised a US$65 million series D round from industrial funds Famous Group and Plentiful International, according to 9f Group’s announcement.
Alibaba’s financial affiliate Ant Small and Micro Financial Services Group Co., Ltd. announced today that it has entered into definitive agreements with investors for its Series C equity financing totaling approximately US$14 billion.
Chinese online media firm Sina Corporation (NASDAQ:SINA) has joined Hong Kong-based venture capital firm Mandra Capital to lead a US$103 million financing round in Pintec, a Chinese fintech platform.
Hangzhou-based fintech platform CGTZ.com has raised a RMB2.3 billion (US$357.8 million) series D round led by Shanghai-listed Geo-Jade Petroleum, a Chinese real estate development and oil exploration and production firm.
Beijing-based China Chengxin Credit, a credit information provider, has raised a RMB450 million (US$70.5 million) series A round from Citic Capital, Hillhouse Capital and others.
China’s tech giant Baidu Inc. (NASDAQ: BIDU) is planning to spin off a majority equity stake in its financial service business, the company announced today when releasing its first quarter financial results.
China Reform Fund Management Co.,Ltd, a private equity firm backed by China Reform Holdings Corporation Ltd and other central state-owned enterprises, has led a RMB1 billion (US$159 million) series C round in 100Credit, a fintech start-up that uses big data to provide credit services.
Alibaba’s third-party mobile payment platform Alipay has been fined RMB180,000 (US$28,535) for inadequate customer rights protection, publishing misleading advertising and improper data protection, according to an administrative penalty notice from People’s Bank of China, Hangzhou branch.
China Minsheng Financial Holding Co., Ltd., a Hong Kong-based investment holding company, has led a US$100 million series E round in London-based social trading and investment platform eToro to support is blockchain technology development.
Tencent Holdings Ltd. and Allianz X, the digital investment unit of Allianz Group, have led a US$160 million series C round in N26, a mobile bank headquartered in Munich.
Chinese investment banking firm China International Capital Corporation Limited (CICC) and China National Cereals, Oils and Foodstuffs Corporation (COFCO) are in talks to lead a RMB13 billion (US$2 billion) round in Chinese e-commerce giant JD.com Inc.’s financial services spin-out, JD Finance, according to China Securities Journal, a Xinhua News Agency-controlled newspaper.
GTR Ventures, a London-based investment and venture-building platform specialized in trade and supply chain, has announced its debut deals with five trade fintech companies.
Alibaba Group Holding Ltd. reported quarterly results today and said that it has agreed to a 33% stake in Ant Financial to end the current profit-sharing arrangement between the parent company and its financial services affiliate.
LexinFintech Holdings Ltd. (NASDAQ:LX), a Chinese online lender previously known as Fenqile backed by investors including Matrix Partners and JD.com Inc., has completed a listing on the NASDAQ to raise US$108 million.
Lion Rock FinTech Ltd., a Hong Kong-based fintech company, has raised HK$50 million (US$6.4 million) in an equity financing led by Marathon Venture Partners.
German fintech start-up NAGA Group, which is backed by Chinese conglomerate Fosun International Limited, has launched an initial coin offering of its crypto-currency NGC Token, aiming to raise US$30 million.
Chinese government has clamped down on online micro lending by suspending new issuance of online micro lending licenses, which are required for lenders to offer loans across the country, according to local media.
Chinese fintech company Jianpu Technology Inc.’s debut on the New York Stock Exchange Thursday was a disappointment, with the stock gaining only 5% despite the company pricing its IPO at below its anticipated price range. Despite the lack-luster debut, the firm’s IPO marks the second successful fintech exit for backers including Sequoia Capital and Lightspeed China Partner I, L.P., after PPdai, a Chinese peer-to-peer lending platform, went public in New York last month. Sequoia Capital and Lightspeed own 17.6% and 16.7% of Jianpu Technology, …
China continues to dominate the fintech landscape, accounting for 5 of the top 10 fintech companies globally in 2017, according to a report by KPMG and H2 Ventures, which compiles a list of the year’s best fintech innovators from around the world.