JD-backed Student Microloan Site Fenqile Lands $235M Funding

Fenqile, one of China’s leading student micro-loan startups, has sealed $235 million USD in funding, the company announced on Wednesday. The injection is part of a larger D series round that has not yet closed, they noted. Founded in August 2013, Fenqile lends users small sums of money for things ranging from electronics to skill training programs. The service is mostly target at students and…

Student Micro-Loan Startup Fenqile In Investment Talks With Tencent

Fenqile, one of China's leading student micro-loan startups, is in talks with Tencent hoping to seal their next round of investment, according to sources who spoke to the Wall Street Journal. The latest round could potentially value the young company at the $1 billion USD mark.  The site offers loans to college students who are then able to pay them back over monthly installments. Its one of a…

JD.com Injects Strategic Investment in Chinese Micro-credit Site Fenqile

Chinese student micro-credit site Fenqile recently announced an undisclosed amount of investment from e-commerce giant JD.com. The startup has previously received angel investment from China Renaissance K2 Ventures and an A round from Matrix Partners China in early 2014. The new funding follows a massive US$100 million Series B led by DST, followed by Bertlesmann Asia Investments and existing…

Don’t miss Hujiang CCtalk, Zhangmen, Laidian Technology, and LexinFintech at TechCrunch Shenzhen’s Main Stage

Big data is now the most valuable asset in the technology industry. With the integration of digital technology into a myriad of industries, as well as new industries, new products and new services, data has proved vital and advantageous for innovative success in China. The country’s large population, exuberant consumer demand, unique digital environment, constantly developing infrastructure,…

How do Inner Mongolia residents use their smartphone? We asked

Inner Mongolia is an autonomous region of China, located in the north of China. While the area might be unknown to a lot of China observers, it is a thriving region: per capita GDP reached RMB 28,350 in 2015 ranking 10th among all 31 provinces with an annual growth rate of 9%. It also has an abundant land area: While the area holds only 24 million people, it takes 12% of China's total land area.……

These 4 failed directions make what ofo it is now

The best success stories often begin with failures. What we see are the hefty funding rounds, skyrocketing valuations; what we overlook are the embarrassing first efforts, setbacks and radical change of directions. Ofo, the first company bike rental company to gain unicorn status in the emerging sector, meets nearly every definition we have for a successful startup now. However, they too had…

Online marketplace lender China Rapid Finance files for US IPO

China Rapid Finance, which operates an online consumer lending marketplace, has filed for IPO on the New York Stock Exchange to raise up to US$100 million. The company has been using an automated system to assess and price credit risk of borrowers since 2014. Apart from traditional data points from the credit reporting platforms including China's central bank, credit bureaus and data vendors,…

Here’s How A Competitive Market Is Transforming China’s On-Demand Services

On-demand delivery and in-home service apps saw massive adoption in China in 2015. Similar to the group-buying craze of 2014, the hype has been backed by venture money. Following several rounds of marketing wars, fuelled by massive subsidies, it's not surprising to see consolidation in the market, especially in the wake of the Chinese stock market plunge. One of the better outcomes of the market…

Meet The Jury For TechCrunch 2015 Startup Competition: Batch I

Though Hangzhou and Shenzhen are both evolving swiftly nowadays, Beijing is a tech hub that we could not neglect when talking about China's startup scene. In the capital city, startups can not only find reliable partners and investors, but also keep up on what are the most trendy concepts in Chinese internet. All startups focused on red-hot sectors like…

China’s O2O Craze Expands On Campus

Online-to-Offline (O2O) services have been all the rage in China as citizens are hunting for solutions to urban life. While the model is transforming all industries, Chinese tech startups are expanding the O2O craze to a particular demographic: university students. China has nearly 30 million university students now thanks to the enrollment expansion program launched at the beginning of this…