China’s credit card management app 51 Credit Card Manager announced it has secured US$50 million of Series B financing led by GGV Capital at a valuation of nearly US$300 million.

The company had closed a combined US$15 million of Series A and A+ round in 2013 from SIG, Crystal Stream and Meridian Capital China. The angel round was received from legendary Chinese angel investor Charles Xue and Meridian Capital China in 2012.

Company CEO Sun Haitao disclosed that the funding will be used for recruiting, R&D, risk control and marketing. He added that they are in talks with investors for a Series B+ round.

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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.