Beijing-based financial technology start-up iTouzi has raised RMB250 million (US$36 million) in a series B funding round from a Chinese company Sino Fortune and an individual investor, the company announced on its website. Sino Fortune is an investment holding company with control of two listed Chinese firms, Shenzhen-listed Hunan Tianrun Digital Entertainment & Cultural Media […]
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Chinese conglomerate HNA Group is late to the Internet finance game, but it just secured a massive funding round for a subsidiary aiming to rival Alibaba Group's Ant Financial and JD.com Inc's JD Finance. Asian private equity firm RRJ Capital has led a US$200 million series A round in Jubao Interconnection Technology (Shenzhen) Co., Ltd., […]
Chinese property Tycoon Wang Jianlin’s plan to relist his real estate empire from Hong Kong to mainland China encountered its first setback after a reverse merger counterpart terminated a proposed deal. Shenzhen-listed Beijing Soft Rock Investment Group revealed in a securities filing that the two parties were not able to reach agreement on the timetable […]
Chinese enterprise file management start-up FangCloud Technology has raised US$8.4 million in a series A+ round led by Chen Weixing, founder of Kuaidi Dache, according to Chinese media reports. UMC Capital, Lightspeed Venture Partners and Matrix Partners also participated in the round. "FangCloud is not based on private cloud. Our mixed cloud platform can better […]
Chinese All Digital Publishing Group Co., Ltd. plans to acquire 13.51% of video sharing platform AcFun, backed by SB China Capital (SBCVC) and Youku Tudou Inc., for RMB250 million (US$36 million), according to a disclosure filing. The Chinese online publishing group is purchasing shares from existing investors. SBCVC and Youku Tudou will see their stakes […]