Renren Ucredit, the parent company of P2P lending service Renrendai, reportedly booked $130 million of Series A funding led by Trustbridge Partners ($65 million) and an undisclosed institution ($65 million) (source in Chinese). The angel round is raised from Honghe Venture Capital in 2010. [Update: Renren Ucredit officially announced the news on Jan. 9] Renrendai […]
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[TechCrunch Shanghai] The Big Money, Chinese Online Financial Market
Partner of ChinaGrowth Partner Wayne Shiong, Co-founder of Lending Club and Dianrong Soul Htite, CEO of Haodai Li Minshun, and Director of Financial Management Business Unit, Small and Micro Financial Services Group Zu Guoming took stage at TechCrunch Shanghai last week to discuss the latest trend of Chinese online financial market. Li Mingshun proposed three keywords for online […]
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Alibaba Finance Reportedly to Inject $35 Million in P2P Lending Service Ppdai
Alibaba Finance, the financial affiliate of Alibaba Group, planned to spearhead foray into P2P industry by investing $35 million in P2P lending platform Ppdai, according to people familiar with the matter (report in Chinese). Although neither of the company confirmed the news yet. Chen Dawei, head of Alibaba Small and Micro Financial Institute, previously said […]
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Introducing TechCrunch Shanghai Speakers: Xu Xiaoping, Soul Htite, Ned Desmond
There’s less than one month away from our TechCrunch Shanghai event. We are putting final touches on the program. We’re delighted that we have managed to put together a speaker lineup that not only includes Chinese entrepreneurs & investors, but also western entrepreneurs that have started businesses in China or want to enter China market shortly. Xu Xiaoping […]
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Tech in China 2013: High Hopes of Disrupting Domestic Financial Market
Yuebao, launched in mid-2013, is a mutual fund tailored to Alipay users. 43.03 million Alipay users adopted it in half a year since its launch. A total of RMB185.3 billion ($30 bn), an average of RMB 4307 ($700) per user account, were transferred into Yuebao that generated RMB1.70 billion in total return in half a year, disclosed Alipay, the online […]
