Installment buying service provider Juzifenqi receives USD 5.9M for Series A
Founder: Shi Xiaodong
Founded in: 2014
Financing status: RMB 40 million (USD 5.9 million) for Series A financing in 2017
Installment buying service provider Juzifenqi, on July 19, received USD 5.9M for Series A financing round to improve its risk management efficiency.
Juzifenqi is an installment buying service provider that enables young customers to purchase products with installment payments on its platform. Currently, it mainly sells digital products, luxuries and some educational products on its platform.
Customers can enjoy installment buying service on its platform with interest free. For example, it is partnering with OPPO to sell smartphones on its platform. Customers can buy latest OPPO R9s Plus smartphone with installment plan within 12 months, which cost customers RMB 333 (USD 49) per month.
Founded in 2014 in Beijing, Juzifenqi currently cooperates with leading video streaming platform iQiyi and news aggregator giant Toutiao to promote its services, and with e-commerce site JD.com to share its inventory. Juzifenqi is also seeking partnership with car retailers in order to expand its installment service to car sales.
Juzifenqi grabbed this new financing round from Wintone Fund. The capital will be used to improve its risk management efficiency and boost online marketing.
Fintech company Fumi receives undisclosed Series A+ in millions of USD
Founder: Wang Anquan
Financing status: Series A+in 2017 amounting to tens of millions of RMB (a few millions of USD)
Fintech company Fumi, on July 19, received undisclosed Series A+ in millions of USD for global expansion.
Fumi Technology is a fintech company that focuses on providing financial services for personal investors all over the world with financial trading information and assistance.
Wei Niu is one of its flagship products that provides financial support globally, and its financial services cover over 20 countries and regions with its five categories of financial products and 37 currency exchanges. So far there are more than 100,000 investment options on its app. Meanwhile, its latest version enables online trading in five major securities markets, including the United States, Hong Kong, Britain, Germany and Singapore.
Fumi Technology was founded in Changsha, Hunan province by its founding members who have previously worked in Alibaba, Xiaomi, Huawei and Bloomberg. Currently it has more than seven million users across the world.
This Series A+ financing round was led by Bojiang Capital. Fumi Technology plans to use the fund to expand its business to new countries, and to introduce AI and big data technology into its products by providing customized investment suggestions.
(Top photo from 58pic.com)