China’s e-commerce powerhouses have spent the holiday season locking down some serious funding for their finance arms.

JD.com announced a 6.65 billion yuan (about $1 billion USD) funding injection into their finance subsidiary, JD Finance, on Saturday. The latest round values the entity at 46.65 billion yuan ($7 billion USD), according to a release from the company.

The funding was led by top investors Sequoia Capital, China Harvest Investments and China Taiping Insurance, according to JD.

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Cate Cadell

Cate is a tech writer. She worked as a journalist in Australia, Mongolia and Myanmar. You can reach her (in Chinese or English) at: @catecadell or catecadell@technode.com