Chinese university student micro-loan site Qufenqi announced that it has secured a massive $200 USD million investment led by Ant Financial, Alibaba Group’s financial-services affiliate, with participation of current investors KalendsBlueRun Ventures and Source Code Capital.

As the fifth investment received by the company, the current round would push the Qufenqi’s total funding to more than $400 million, including two $100 million rounds secured in December 2014 and April 2015, eight-digit USD funding landed in August 2014 and two other smaller rounds received in the same year.

The tie-up will help Qufenqi to further integrate its platform with Alibaba’s Alipay and Sesame credit-scoring service to construct a financial ecosystem for university students. Under the deal, Ant Financial will assign a board member for the startup.

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

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.