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Minsheng Yidai secured USD 60 M to spread its millennial-friendly financial services, & more

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Online financial platform Minsheng Yidai received USD 60 M for Series A

Minsheng Yidai

Founded in: 2014

Financing status: RMB 400 million (USD 60 million) for Series A financing in 2017

Online financial platform Minsheng Yidai received USD 60 M for Series A on August 16 to expand its financial services to more consumption scenes.

The financial service industry is expanding due to economic development and the general improvement of people’s quality of life. People earn more, and spend more money as well. But data shows that the younger generation in China has an increasing amount of consumption power. They are a generation that enjoys the “borrow today, pay back later” lifestyle. Because of this, P2P financial services and installment payment support are prevailing among China’s younger generation. They also care more about personal credit, which means some common problems the financial service industry encountered, such as risk control, are not serious for these young people. Minsheng e-commerce’s financial service branch Minsheng Yidai secured a USD 60 million financing round for seizing opportunities in the financial service industry.

Minsheng Yidai is an online financial platform that mainly provides users with loan and installment payment services. Based on personal basic consumption demands, it provides financial services in several scenes: it cooperates with online education and training institutions, enables users to purchase training and educational products with installment payment support; and works with car dealers to enable users to buy cars through installments. It is also partnering with travel agencies, and launched related financial services to support users’ overseas travels.

Founded in 2014 in Guangzhou, the turn over on its platform exceeds RMB 30 billion. It is introducing big data related technologies to improve its risk control ability, and improving its operational efficiency through advanced technology.

This new financing round was from a group of investors, including China Follow Partners and Sino-Ocean Group Holding Limited. The capital will be used to expand its financial services to more consumption scenes, as well as recruit more talent for a larger technology team.

 

Online medical beauty service provider Yuemei received USD 12 M for Series C

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Yuemei

Founder: Xiang Xiaoqin

Founded in: 2012

Financing status: RMB 80 million (USD 12 million) for Series C financing in 2017

Online medical beauty service provider, Yuemei, received USD 12 M for Series C on August 16 to launch more offline outlets in more cities.

Yuemei is an online medical beauty service provider that enables patients to  seek plastic surgeons from local institutions, providing related prices and profile pages for registered practitioners online on its platform. It is working with some medical institutions, as well as opening offline medical beauty outlets to meet patients’ beauty demands.

Currently, patients can place orders online to make appointments with experts for diagnoses, and then go to offline outlets for treatment. After that, Yuemei requires patients to make comments about experts and its services. It has proven to be a positive circle to expand its business, which helps Yuemei grab more new registrants.

Founded in 2012 in Beijing, it is cooperating with over 3000 medical institutions, with more than 8000 experts on its platform. There are more than 12 million views on its online pages, and its annual turn over reaches hundreds of millions of RMB (tens of millions in USD).

Yuemei landed this Series C financing round led by Hanergy. It plans to use the funds to launch more offline outlets in more cities, as well as introduce new technologies to standardize its medical beauty process.

(Top photo from 58pic.com)

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