Our weekly column summarizes the tech financing highlights in China this week.
Financial services are in demand in several scenes, such as paying for rent and insurance related businesses, among others. Though these seem far removed from financial services, they are essentially finance-based. This week, 58 Fangdai, which provides tenants with rent installment services using Zhima credit scores, secured a financing round. Meanwhile, finance related scenes, such as insurance and crowdfunding services, are attracting capital.
Rent installment platform 58 Fangdai receives USD 45 M for Series E
58 Fangdai
Founder: Wu Chao
Founded in: 2015
Financing status: RMB 300 million (USD 45 million) for Series E financing in 2017
Rent installment platform, 58 Fangdai, received USD 45 M for Series E on August 25 to perfect its rent installment services by introducing financial services.
Insurance customization platform Baozhunniu received USD 15 M for Series B
Baozhunniu
Founder: Chao Xiaojuan
Financing status: RMB 100 million (USD 15 million) for Series B financing in China
Insurance customization platform, Baozhunniu, received USD 15 M for Series B on August 23 to integrate its services into more industries.
Fashion bloggers’ community Nothing received undisclosed Series A in millions of USD
Nothing
Founder: Aric
Founded in: 2015
Financing status: Series A financing in 2017 amounting to tens of millions of RMB (a few million USD)
Fashion bloggers’ community, Nothing, received undisclosed Series A in millions of USD on August 25 to acquire high-quality content.
Bulk commodity logistics trading platform Haoyunhu received USD 7 M for Series A
Haoyunhu
Founder: Wang Bo
Founded in: 2015
Financing status: RMB 47 million (USD 7 million) for Series A financing in 2017
Bulk commodity logistics trading platform, Haoyunhu, received USD 7 M for Series A on August 28 to boost trading efficiency through information technology.
Furniture e-commerce platform Wozaijia received USD 5 M for Series A+
Wozaijia
Founder: Zhao Qiming
Founded in: 2016
Financing status: RMB 33 million (USD 5 million) for Series A+ financing in 2017
Furniture e-commerce platform, Wozaijia, received USD 5 M for Series A+ on August 28 to invest in market expansion plans across China.
Cloud computing company Qiniu receives USD 151 M for Series E
Qiniu
Founder: Xu Shiwei
Founded in: 2011
Financing status: RMB 1 billion (USD 151 million) for Series E financing in 2017
Cloud computing company, Qiniu, received USD 151 M for Series E on August 29 to expand its cloud computing businesses to more industries.
Online English education brand Magic Ears received USD 6 M for pre-Series A
Magic Ears
Founder: Jin Lei
Founded in: 2017
Financing status: RMB 40 million (USD 6 million) for pre-Series A financing in 2017
Online English education brand, Magic Ears, received USD 6 M for pre-Series A on August 28 to invest in market expansion plans.
Enterprise legal solutions provider Zhaodazhuang received undisclosed Series A in millions of USD
Zhaodazhuang
Founder: Shang Hongjin
Founded in: 2016
Financing status: Series A financing in 2017 amounting to tens of millions of RMB (a few millions USD)
Enterprise legal solutions provider, Zhaodazhuang, received undisclosed Series A in millions of USD on August 30 for market expansion.
Crowdfunding platform Kaistart received USD 29 M for Series C
Kaistart
Founder: Xu Jianjun
Founded in: 2015
Financing status: RMB 190 million (USD 29 million) for Series C financing in 2017
Crowdfunding platform, Kaistart, received USD 29 M for Series C on August 30 to boost its operational efficiency.
Insurance platform Shuidihuzhu received USD 24 M for Series A
Shuidihuzhu
Founder: Shen Peng
Founded in: 2016
Financing status: RMB 160 million (USD 24 million) for Series A financing in 2017
Insurance platform, Shuidihuzhu, received USD 24 M for Series A on August 30 to expand its team.
(Top photo from 58pic.com)
