China’s largest co-working office space operator Ucommune has raised a RMB300 million (US$43.5 million) investment round from property developer RK Properties and existing investor Jingrong Holdings, according to the company’s announcement.
After completing the docking with Alibaba’s Tmall store, Ali Health, RT-Mart, Freshhema and other commercial entities, Ele.me announced that it had completed the entrance docking with Hellobike.
Yunfeng Capital, co-founded by Alibaba’s founder Jack Ma has raised US$2.5 billion for its new fund, according to a security filing dated August 3 with the U.S. Securities and Exchange Commission.
Beijing Bytedance Technology Co. has reportedly kicked off an equity-fundraising round that could value the owner of China’s most popular news-aggregation app at as much as US$75 billion.
Two massive deals in the fintech and media sector, each worth US$1.5 billion or more, stood out in China’s venture capital market in July, as investors put US$11.36 billion in start-ups last month.
Public-blockchain technology venture, Ultrain Technology Ltd. Raised US$20 million cornerstone investment from Danhua Capital, FBG Capital, BlueRun Ventures, 8 Decimal Capital, OK Gang Capital and others, according to Chinese media reports.
Ofo, one of the two largest Chinese bike rental firms in China, is near a deal to sell itself to Chinese ride hailing firm Didi Chuxing at a much discounted price after suffering a slew of bad news.
Megvii Inc., the Chinese developer of facial recognition system Face++, is said to be raising at least $600 million from investors including Alibaba Group Holding Ltd. and Boyu Capital, according to media reports.
Xilinx Inc, a San Jose, California-based programmable logic devices supplier, announced that it has acquired Beijing-based artificial intelligence start-up DeePhi Technology Co. Ltd.
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.
AutoNavi Software Co., Ltd., a Chinese mapping app acquired by Alibaba Group Holding Ltd. in 2014, has launched a ride-hailing aggregation platform to compete with Didi and other ride-hailing services in China.
In this episode of China Money Podcast, listen to all the news headlines in the China venture and tech sector for the week of July 2 to July 6, 2018, with host Nina Xiang. Topics covered include Chinese VC Tracker for the month of June, where a monster round completed by Ant Financial drove monthly VC deal value over 300% more than that of May, and computer vision solutions firm Trax raising a US$125 million round from Chinese investment firm …
Alibaba’s financial affiliate Ant Financial has invested an undisclosed amount in subway Wifi provider Peanut Subway, following Tencent’s bid to obtain 49% stake in high-speed train Wifi provider last month.
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.
In June, Chinese VC market hit a new record, driven by a monster US$14 billion series C round completed by Ant Financial, Alibaba’s financial services platform.
Beijing-based co-working space operator Kr Space Ltd. is pushing into Hong Kong aggressively, adding three new leases of office space recently that it hopes to convert to co-working facilities. This comes as the competitor to WeWork Cos. in China is trying to close a new funding round of roughly US$300 million after raising US$200 million last month, according to people familiar with the matter.
DUBLIN–(BUSINESS WIRE)–The "Asia-Pacific
Online Payment Methods: Full Year 2017″ report has been added
to ResearchAndMarkets.com’s offering.
E-Commerce in the vast Asia-Pacific region is rapidly expanding, with
Asset-backed securities (ABS) with underlying assets of credit card bad loans are on the rise in China, as 14 ABS backed by credit card bad loans totaling RMB4 billion (US$610 million) were issued from 2016 until the end of April 2018. A pilot program were introduced in 2016 to experiment this approach to manage credit card bad loans.
AlipayHK, a unit of Alibaba’s Ant Financial, and Philippines-based payment service platform GCash launched a cross-border remittance service based on blockchain technology yesterday.
Real-time remittance service made available between Hong Kong and
HONG KONG–(BUSINESS WIRE)–AlipayHK and GCash today announced the launch of a cross-border
remittance service through their e-wallet platform…
MYbank to open up its AI, computing and risk management capabilities
to financial institutions to improve the efficiency and reduce the cost
of serving SMEs and farmers
HANGZHOU, China–(BUSINESS WIRE)–MYbank, a leading onl…
Chinese companies only completed US$1.8 billion of acquisitions and greenfield investments in the United States in the first five months this year, representing a 92% drop from the same period in 2017, and the lowest half-year figure in seven years, according to New York-based research firm Rhodium Group.
27 asset management companies have set up a Caifuhao wealth management
corporate account on the Ant Fortune platform, increasing operational
efficiency by 70% and reducing costs by 50%
Alibaba’s fintech affiliate Ant Financial has made a strategic investment in Xingbianli, a checkout-free convenience store operator that focuses on placing snack bars in offices. The size of the investment in Sequoia-backed Xingbianli was not disclosed.
In this episode of China Money Podcast, listen to all the news headlines in the week of June 4-8, 2018 with host Nina Xiang and guest Fritz Demopoulos, founder of Queens Road Capital and co-founder of Qunar.com. Topics covered include Chinese smartphone maker Xiaomi Inc.’s dual listing in Hong Kong and in China via the newly implemented CDR program, Ant Financial’s massive US$14 billion new round, and how to keep up with shifting new tech trends in today’s world. Be …
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.
Alibaba’s financial services unit Ant Financial has invested RMB2.06 billion (US$321 million) in bike sharing firm Hellobike, valuing the latter at US$1.47 billion and giving birth to a new unicorn company in China, according to Shanghai-listed Yonou Bike’s security filing.
In a potentially controversial move to fight intellectual property theft from China, the Trump administration plans to shorten the length of validity for some visas issued to Chinese citizens, the U.S. State Department said Tuesday, according to U.S. media.
Alibaba Group’s financial affiliate Ant Financial has led a D round of more than US$200 million in Shenzhen-based motion sensing firm Orbbec.
Jack Ma, the billionaire founder of Chinese tech giant Alibaba Group Holding Ltd., said that Bitcoin is a bubble, while blockchain is not.
Xiyun International, a Chinese group meal catering company, has raised US$200 million in a series A round of funding from Ant Financial, CDH Investment and Koubei, a local commerce portal under Alibaba and Ant Financial.