Rong360.com Inc, a Chinese provider of customized financing and loan services, on Wednesday announced to have completed a D-series funding of about RMB one billion (USD 166 million).
Leading the funding were investors Yunfeng Capital Sailing, Sequoia Capital and StarVC. Rong360’s CEO claims that after fundraising they’ve become a new “unicorn ”, with a valuation of over USD 1.6 billion, Tencent Tech reports.
Targeted at individual consumers and small to medium-sized businesses in China, Ye Daqing, CEO of Rong360.com said that the new funds will be used for boosting the growth of the business, adding that more effort will be put into developing risk management products and mobile service.
The company will also pay attention to brand-building and stick to providing customers with better service which will influence and lead the way people utilize online financial services, he added.
Rong360.com was launched in March 2012, and achieved an A-series funding of USD seven million not long after. A B-series followed in August 2013 lead by Sequoia Capital, with a C-series following in July 2014 lead by Pavilion Capital Pte Ltd.
Ye said that the website provides 170,000 different types of financial products. He claimed have served 20 million clients in total and their monthly page views have topped 100 million.
(Photo from screenshot of Rong360.com)