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.
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.
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.
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, 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 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 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.
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.
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.
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 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 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.
Qingdao Ronghai State-Owned Asset Management Company, an investment entity owned by the state-owned asset management office of Licang district in Qingdao city, has led a RMB200 million (US$29 million) series A round in Hairongyi.com, a financial technology start-up backed by Haier Financial Holdings.
International Finance Corp. (IFC), a member of the World Bank Group, has led a US$50 million series B round in CompareAsiaGroup, a Hong kong-based online comparison platform for financial, telco and utility products across Asia.