Auto financial services platform Chedaidai receives USD 9M for Series A+
Founder: Gao Jiaxi
Founded in: 2016
Financing status: RMB 600 million (USD 9 million) for Series A+ financing in 2017
Auto financial services platform, Chedaidai, received USD 9 million for Series A+ on November 27 to build an ecosystem of auto financial services.
Chedaidai is an auto financial services platform which mainly provides loan services for car buyers. With help from capital, Chedaidai and a wealth management platform, Huasheng, will form a new enterprise group, Guolun Group. According to the founder, Gao Jiaxi, Chedaidai currently serves 100,000 users with its financial products and services which cover 16 cities in China with 20 offline outlets with turnover amounting to over RMB two billion (USD 303 million).
With more and more buyers seeking financial support on these platforms, auto financial platform are facing cash flow challenges. Huasheng wealth management platform is seeking innovation opportunities in the auto financial industry. All of Huasheng’s wealth is from auto loans, and are now under Jiangxi Bank’s financial regulation. It aims to facilitate consumption by building more consumption scenes based on O2O and financial services. Additionally, the platform‘s promotion strategy mainly targets urban professionals.
This new financing round was led by an undisclosed group of investors. Chedaidai’s existing investors including K2VC, Legend Star, and Plum Ventures. The capital will be used to further invest in recruiting talent, improving technology, and building an ecosystem based on the integration of Huasheng wealth management platform.
Medical big data startup SYNYI.AI receives USD 8M for Series A
Founder: Zhang Shaodian
Founded in: 2016
Financing status: RMB 55 million (USD 8 million) for Series A financing in 2017
Medical big data startup, SYNYI.AI, received USD 8 million for Series A on November 27 to invest in market expansion plans.
SYNYI.AI is a medical big data startup that specializes in research into the application of big data in healthcare. They have developed a semantic analysis system that is able to standardize the unstructured records kept by many Chinese hospitals. The company processes in-depth management and mining of big data based on natural language processing, machine learning and deep learning, in order to boost medical innovation, and identify new opportunities and new insights in medical health, especially clinical medical health.
Founded in 2016 in Shanghai, SYNYI.AI’s founding team specializes in AI, health, and medical information. Its big data solutions are widely adopted by insurance companies, medical enterprise customers, hospitals, and others.
This Series A financing round was led by Sequoia Capital. Previously, the company secured financing rounds from ZhenFund, and ChinaRock Capital Management, among others. The company plans to use the funds to strengthen its technical advantage at medical natural language processing, medical big data mining, as well as machine learning. Meanwhile, it will also invest in team expansion, and market expansion plans.
(Top photo from vcg.com)