Online lending is now popular in China with MintQuantum receiving USD 14.5 M for Series B, & more

Smart lending startup MintQuantum receives USD 14.5 M in Series B round

MintQuantum

Founder: Li Yinghao

Financing status: RMB 100 million (USD 14.5 million) in Series B financing in 2017

MintQuantum is a global fintech startup, which is now making inroads in the smart lending industry in China and the United States. The online lending venture is modelled after America’s Capital One. With China’s tech and global financial resources, the Chinese startup hopes to be the leader in online lending in the country.

The company provides loans online with installment payment days of seven days, fifteen days and thirty days. It has, so far, grabbed more than 50 million users and clears almost 500,000 loans applications monthly.

MintQuantum received Series B round financing led by the founder of Gaode Map, and its Series A round financing was invested by Redpoint Ventures, Aplus and Qichen investment. It will use this fund to expand business in more countries and improve its financial technology.

Pedelec rental startup Cyou receives millions of USD in financing

Photo from Baidu image
Photo from Baidu image

Cyou

Founder: Bian Young

Financing status: Tens of millions in RMB (a few millions USD) in financing in 2017

Cyou is a pedelec rental startup that aims to meet people’s long distance travel better than traditional bikes. These pedelecs, or pedal electric cycles, will help people travel more than 100 kilometers based on a hybrid of manpower and electric power. Based on its intelligent power output system, passengers can even adjust the power ratio for their comfort to enjoy a unique cycle experience.

Based in Shanghai, both of the Cyou’s co-founders are experienced hands, having worked in pedelec development and company management previously. The company’s core members too are former employees of Alibaba, Giant and Microsoft. This combination will help them expand their business quickly.

The startup grabbed this financing led by New Access Capital, and this fund will be used to make more pedelecs and expand business in new cities in China.

(Top photo from 58pic.com)

Kaikai Shi
Kaikai Shi

Kaikai Shi writes for us. He holds a bachelor's degree in Biotechnology at Zhejiang University. His interests are in new technology and reading. Kai believes that new technology will change the world we live in, and is trying to engage himself in this process.

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