Shenzhen-based financial service firm WeShare has raised $90 million in a series B round led by Huaxing New Economic Fund, Loyal Valley Innovation Capital and CITIC Capital, according to CMN’s report citing Huaxing Capital’s announcement on its WeChat channel on Sunday.
Other participants in this round also include ICBC International, DT Capital Partners, Bertelsmann Asia Investments, Mangrove Bay Capital, CCB Trust and Welight Capital.
It said WeShare’s existing investor Tencent also increased its shareholding in the company.
WeShare was founded in 2017 by a former managing director of Standard Chartered Bank. It focuses on providing consumer finance on the on-stop service platform, based on artificial intelligence, cloud computing, blockchain and big data techonology.
It has partnered with commercial banks, personal loan providers, auto-finance and online shopping platforms.
In July, another Chinese lending platform Pintec Technology Holdings Ltd has filed for an initial public offering on Nasdaq and is expected to raise up to $70 million.