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 Firm 9f Group Raises $65M Series D Round
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.
Ant Financial Raises $14B In Series C Equity Financing
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.
Sina, Mandra Capital Lead $103M Round In Chinese Fintech Firm Pintec
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.
Chinese Fintech Firm CGTZ.com Raises $358M Series D Round Led By Geo-Jade Petroleum
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.
China Chengxin Credit Raises $70.5M Series A Round From Citic Capital, Hillhouse Capital And Others
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.
Baidu Plans Spin Off Financial Service Unit With $7.5B Assets
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.
Fintech Start-up 100Credit Gets $159M From State-owned China Reform Fund
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.
China Central Bank Fines Ant Financial’s Alipay For Misleading Ads, Poor Data Protection
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 Leads $100M Series E In Ping An-Backed Social Trading Firm eToro
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 Joins Allianz Leading $160M Series C In Round in German Mobile Bank N26
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.
CICC, COFCO Said To Invest $2B In JD Finance At $26B Valuation
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 Invests In Five Fintech Start-Ups, Aims For Global Expansion
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 Reports Earnings While Agreeing To Take 33% Of $70B Fintech Arm Ant Financial
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.
China’s LexinFintech Completes $108M Listing As Sixth Chinese Fintech IPO In US
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.
Hong Kong Fintech Start-Up Lion Rock Raises $6.4M Led By Marathon Venture
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.
Fosun-backed Fintech Start-up NAGA Launches $30M Initial Coin Offering
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.
Fintech Shares Plunge As China Suspends Issue Of Online Micro Lending Licenses
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.
Sequoia, Lightspeed China Poised To Exit After Fintech Firm Jianpu Technology’s US IPO
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 Fintech Companies Dominate Top-10 List of Global Innovators
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.
Cinda International Leads Massive Round In Chinese Fintech Company 9f Group
Beijing-based fintech company 9f Group has raised a massive new funding round from Cinda International Holding Ltd, a subsidiary of state-owned China Cinda Asset Management Co., Ltd., Focus Media Information Technology’s Chairman Jiang Nanchun, video game developer Youzu Interactive’s chairman Lin Qi and an unnamed Chinese industry fund.
Investors Beware: China’s Fintech Hype Hides Regulatory Risks
International investors have been buying up China’s FinTech IPO’s as quickly as they can come to market. After all, one and a half billion people with the ability to borrow money with the click of a mobile app has a lot of appeal.
Temasek Co-Leads $72.8M Round In Chinese Fintech Firm Tongdun Technology
Singapore’s state investment firm Temasek Holdings, Chinese investment firm Tiantu Capital and Xindahanshi Capital have led a US$72.8 million new funding round in Tongdun Technology, a Chinese fintech start-up specializing in risk control.
Ping An Global Voyager Fund Invests In European Fintech Firm 10X Future Technologies
Ping An Global Voyager Fund, a US$1 billion overseas investment fund launched by Ping An Insurance Group Co of China Ltd, has made its first investment in European fintech company 10x Future Technologies. Ping An Global Voyager Fund and strategy consultancy Oliver Wyman led a £34 million (US$40 million) series A round in 10x Future, which is founded by former Barclays CEO Antony Jenkins and focuses on providing holistic technology solutions to banks. "10x Future Technologies and Ping An share …
JD.Com, Central Group To Invest $500M For E-Commerce And Fintech JVs In Thailand
JD.com Inc. and its financial technology unit JD Finance have agreed to team up with Thailand’s largest retail conglomerate Central Group to invest an aggregate of up to US$500 million to establish two joint ventures in Thailand covering e-commerce and fintech services, in the Chinese e-commerce giant’s major foray into the Thai market.
NewMargin Leads $115M Round In HK Digital Wallet Developer TNG FinTech
NewMargin Capital, a private equity firm listed on China’s New Third Board, has led a US$115 million series A round in TNG Fintech, a Hong Kong-based financial technology start-up developing a digital wallet platform.
Qiming Leads $30M Round In Chinese AI Start-Up Abcfintech
Abcfintech, a Chinese AI services provider targeting the financial services sector, has raised a total of US$30 million through an angel round and a series A round. Chinese venture capital firm Qiming Venture Partners led the round, with Source Code Capital, SIG Asia Investment and Welight Capital also participating, according to a company announcement.
Sina Corp Establishes $500M Online Finance Fund To Back Chinese FinTech Firms
Chinese Internet portal Sina Corp said it would establish an Online Finance Fund with a target fundraising size of US$500 million to invest in Chinese fintech companies.
FinTech Firm TiENPAY Aims To Build Top Global Mobile Wallet Clearance And Settlement System
This Podcast Is Sponsored By TiENPAY TiENPAY is not your average fintech start-up. With the company’s origins dating back to the first mobile wallet launched in Australia in 1996, the Hong Kong-based firm has a grand dream: to become the number one global mobile wallet clearance and settlement platform.
Ant Financial Invests In Chinese FinTech Start-Up VFinance
Ant Financial Services Group, the financial services affiliate of Chinese Internet giant Alibaba Group Holding Ltd., has made a strategic investment in VFinance, a Shanghai-based start-up providing digital financial infrastructure solutions to enterprises in China.
Korea Investment Partners Leads Funding Round In Cross-Border Fintech Firm Meixin Global
Korea Investment Partners Co., Ltd., a non-bank financial holding company in South Korea, has led a series A round worth tens of million U.S. dollars in Meixin Global, a New York and Beijing-based start-up providing cross-border wealth management platforms for high-net-worth individuals.