Tech Financing in China this week – P2P lending leads

Our weekly column summarizes the tech financing highlights in China this week.

P2P-lending caught on quickly in China previously, so many enterprises have plunged into the industry thanks to a market vast in size and full of business potential. However, some of them have halted expansion in the face of numerous initial problems within the industry. These include issues relating to risk management, lack of regulation, and so on. Moreover, some external problems, including underdeveloped related technology, have yet to be properly refined. While for now, AI and big data, as well as other advanced technologies, are sufficiently developed to be adopted in the P2P-lending field, to facilitate lending services, as well as to secure trading. This week, on January 24th,P2P-lending platform, Dianrong received USD 70 million in a Series D+ financing round led by ORIX. Dianrong offers transparent investment and lending experience based on advanced Internet technology. The platform will use the funding to enhance their business operations.

On January 19th, global logistics solutions provider, EasyCarry, which offers integrated international logistics solutions for Internet B2B professional platforms, received USD 19 million for Series A & Series A+ led by a group of investors, including Xiang He Capital, Peeli Ventures and SIG. Following this round of financing, the startup seeks to further expand its service to air freight, railway, and land transportation and aims to become a comprehensive international logistics solutions provider.

On January 21st, a community-based ecommerce platform, The Good Stuff received USD 20 million for Series B led by Joy Capital. The Good Stuff provides preferred products for members of the community based on a decentralized model. The capital will be used to improve its supply chain and to pursue market expansion.

On January 23rd, a short video producer, YitiaoTV, which produces short videos with various themes and an integrated e-commerce platform for selling related products, received an undisclosed Series C+ funding led by JD and others. The startup plans to cover 100 cities with 100,00 offline stores.

On January 23rd, B2B vegetable ecommerce platform, Songxiaocai, which bridges vegetable growers and distributors for online vegetable trading, received USD 36 million for Series B led by GLP. The startup will use the newly raised capital to further invest in expanding its services and product range.

On January 23th, a SaaS-based mobile sales management app, Fxiaoke, received USD 50 million in funding for strategic financing led by Kingdee. Fxiaoke offers CRM (Customer Relationship Management) services integrated with big data, cloud computing, and the Internet. With support from Kingdee, Fxiaoke will further invest in market expansion plans for a leading position in the CRM industry.

On January 24th, WeChat concierge Mini Program and e-commerce platform SeeAPP, which offers services to facilitate e-commerce on WeChat’s Mini programs, received over USD 10 million in funding led by Tencent. The startup will further invest in strengthening its supply chain, as well as expanding its business via seeking more brands for cooperation.

On January 25th, Dianpuhulian, a B2B e-commerce platform for fast-moving consumer goods, targeted at business partners, convenience stores, and individual customers, received USD 55 million in a Series B+ financing round led by Beijing ZhenRu Investment. With the capital support, the company plans to enhance its supply chain, introduce big data technology, marketing and services on its platform in order to improve its customer experience.

(Top photo from 699pic.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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