By Quynh Nguyen
Pudong Innotek and existing investors Lilly Asia Venture and OrbiMed Asia also joined the round.
The number of Chinese pawn shops has doubled since 2010 to more than 8,500 and their average loan size exceeds $26,000, versus around $100 in the U.S.
By cutting its losses, Meituan can now focus on its core battle against ele.me, the delivery service backed by Alibaba Group Holding Ltd.
The startup has developed a unique business model in China’s pet food sector by launching a subscription-based service.
Its net loss widened to 3.4 billion yuan in the quarter ended Dec. 31 from 2.2 billion yuan in the year-earlier period.
Mofang raised about $400 million across three previous rounds, and counts Warburg Pincus as its largest shareholder.
The Beijing-based firm has launched its signature orange bikes in markets including Australia, Europe and the United States.
Moody’s has reached a framework agreement to increase its holding in Chengxin to more than 50 percent, from 30 percent.
The deal marks the e-commerce giant’s fourth significant investment in a Chinese courier company.
Electric vehicle maker Weltmeister Motor has raised $450 million in a Series C round led by Chinese internet group Baidu Inc.