China Dealbook: CDB leads $42m round in Wacai; Ruigu Shop raises $14m

A clerk counts Chinese yuan and U.S. dollar banknotes at a branch of Bank of China in Taiyuan

In startup funding updates from China, fintech firm Wacai has raised $42 million from China Development Bank Capital, while Ruigu Shop, an e-commerce platform focused on the Chinese electrical hardware sector, has raised RMB100 million led by Chengwei Capital.

CDB leads $42m round in Wacai

Chinese financial technology firm Wacai has raised $42 million investment from China Development Bank Capital, an investment unit of China Development Bank, according to a report in China Money Network.

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