China’s Sina invests $30m in fintech firm Shuhe Technology  – Deal Street Asia

What happened: Shanghai-based fintech firm Shuhe Technology has raised $30 million in a Series B from Chinese internet giant Sina Corp. Shuhe provides consumer financial services such as installment repayment plans for credit card holders. Sina said it decided to invest in the fintech company after witnessing strong growth in the market for such services.

The investment will finance enhanced operational efficiency and improved credit card services, according to Shuhe. The two companies will collaborate in various areas including data, traffic, technology, and products.

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Nicole Jao

Nicole Jao is a reporter based in Beijing. She’s passionate about emerging trends, news, and stories of human interest within the world of technology. Connect with her on Twitter or via email: nicole.jao.iting@gmail.com.