<article>Chinese credit card management firm 51 Credit has reportedly sealed an $84-million series C+ funding from Harvest Capital and Yintai Group, only a month after the company secured $310-million series C investment.
The earlier round, which valued the <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=ggv+capital">GGV Capital</a>-backed company at $1 billion, was led by Tiantu Capital and Chinese A-share real estate developer Xinhu Zhongbao, according to the company’s website.</article>

Chinese credit card management firm 51 Credit has reportedly sealed an $84-million series C+ funding from Harvest Capital and Yintai Group, only a month after the company secured $310-million series C investment.
The earlier round, which valued the <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=ggv+capital">GGV Capital</a>-backed company at $1 billion, was led by Tiantu Capital and Chinese A-share real estate developer Xinhu Zhongbao, according to the company’s website.
In total, 51 Credit has received $444 million in equity funding, according to Crunchbase.
The staggering fundraising will help the company expand by establishing its own investment fund targeting fintech companies in the upper and lower links of the financial chain, the Technode reported.
Sun Haitao, 51 Credit CEO reportedly said that the fund will be launched within this year, and its total capital under management will reach hundreds of millions RMB with focus on asset management, data and credit services.
Since earlier 2016, 51 Credit has boosted its presence through the acquisition of micro loan startup 99fenqi and the launch of 51rp credit card, said the Technode report.
Established in 2012, the fintech firm boasts a number of over 70 million users, managing 30 per cent of China’s active credit card bills.
It has started to record profits with monthly revenue at some 100 million ($14.76 million) and annually revenue hopefully exceeding 1 billion RMB this year.
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China's 51 Credit bags $84m series C+ round to build fintech investment fund

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China's 51 Credit bags $84m series C+ round to build fintech investment fund

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