<article>Chinese corporate investors have been active in both the international and domestic market.</article>

Chinese corporate investors have been active in both the international and domestic market.
Fintech group CreditEase&#8217;s venture capital arm has participated in a $38-million Series B funding in US startup Nav. Meanwhile, in the domestic market, Jumei, an online marketplace of beauty products, has agreed to make a strategic investment in power bank rental firm Jiedian Technology for $43.5 million.
<h3 style="text-align: justify;">CreditEase Fintech Investment Fund joins US fintech firm Nav&#8217;s $30m funding</h3>
CreditEase Fintech Investment Fund, the venture capital arm of Chinese <a style="color: #000080;" href="http://www.dealstreetasia.com/tag/creditease/">CreditEase Group</a>, has joined other investors in a $13-million funding round for US-based financial technology firm Nav.
Goldman Sachs Principal Strategic Investments led the investment, and Point72 Ventures and Clocktower Technology Ventures also participated.
This new financing increases Nav’s Series B funding from the previously announced $25 million to $38 million, the company said in a statement.
The earlier $25 million round was led by Experian, with participation by Crosslink Capital, Tencent Holdings and other existing investors of the firm.
Rana Yared, managing director in the Goldman Sachs Principal Strategic Investments group, has become Nav’s board observer in conjunction with the strategic investment.
Nav is a platform that helps small business owners get more financing while lowering their operational costs through a marketplace with more than 100 financial products. The startup claims to have more than 200,000 small business owners using its platform.
&#8220;Our model is solving the access to capital problem in a modern way. We&#8217;re using data to help business owners understand their financial health and dramatically simplify the process of borrowing money and getting credit,&#8221; said Levi King, co-founder and CEO of Nav.
&#8220;Nav&#8217;s real-time financial health database, combined with superior technology solutions, continue to help small businesses in the US. With CreditEase&#8217;s deep fintech industry insights and years of operating experience in small business lending, we expect stronger global cooperation between the two companies in the future,&#8221; commented Anju Patwardhan, senior partner of the $1 billion CreditEase Fintech Investment Fund.
<h3 style="text-align: justify;">Jumei to acquire Jiedian Technology for $43.5m</h3>
Jumei International Holding Ltd, a New York-listed Chinese online cosmetic retailer, has reached an agreement to acquire a strategic stake in Shenzhen-based portable power bank sharing business Jiedian Technology for RMB300 million ($43.5 million).
Jiedian provides portable power banks to power charging boxes in highly frequented points of interest such as restaurants, bars, gyms, airports, train stations, shopping malls, beauty salons, hospitals and parks.
Jiedian has deployed its power boxes in more than 20 major cities in China and plans on expanding nationwide.
Users are allowed to charge their mobile phones on-site or take away a power bank and return it at any other Jiedian site, located by an app which also enables e-payments.
&#8220;The sharing economy is rapidly developing as hundreds of millions of Chinese consumers have embraced internet mobility as a way of life, both professionally and socially. Intensive smartphone usage creates a vast market for Jiedian’s innovative services and network. This strategic investment in Jiedian will allow us to further expand our ecosystem to the forefront of mobile internet business and is an important portion of Jumei’s all-in strategy to ride the new wave of technology innovation,&#8221; said Leo Ou Chen, founder and CEO of Jumei.
Also read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/symbiont-hundsun-technologies-seriesa-71961/">Jack Ma-backed Hundsun invests in smart contracts firm Symbiont’s Series A+</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/tishman-speyer-creditease-teams-up-to-invest-1-4bn-in-china-70538/">Tishman Speyer, CreditEase team up to invest $1.4b in China</a>

CreditEase Fintech Investment Fund, the venture capital arm of CreditEase Group, has joined other investors in a $13-million funding round for US-based fintech firm Nav.

China: CreditEase VC arm invests in Nav; Jumei acquires Jiedian Technology

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

China: CreditEase VC arm invests in Nav; Jumei acquires Jiedian Technology

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief