Win-win Financing (Yingying Licai in Chinese), a Chinese P2C finance app, announced it has received an additional eight-digit dollars in Series A+ round from GGV Capital after securing reportedly 20 million yuan (around US$ 3.2 million) of Series A financing last year.

Win-win Financing started its business in 2013 as a personal finance app helping users to purchase financial products like monetary funds, etc. The app gradually included P2B and P2P services in 2014. As of the end of June this year, the startup claimed more than 5 million downloads and 1 million registered users. Its turnover has exceeded 3 billion yuan, bringing over 60 million of incomes to investors, according to the company.

While most of traditional financial products target at users aged more than 35 years old, Win-win Financing is after younger users aged between 25 to 35, who just started their career. According to Ye Jinwu, CEO of the company, the per capita investment of traditional P2C and P2P platforms are usually more than 30K yuan. Since the target users of Win-win Financing may not have as much savings in their early career life, per capita investment of Win-win is around 6K to 7K yuan, which in turn leads to different profitability structure of the platform, said Ye.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.