China Digest: PAG, Primavera lead $17m round in Dashu Finance; Fidelity backs Jiguang

100 Yuan notes are seen in this illustration picture in Beijing November 5, 2013. REUTERS/Jason Lee/Files

The latest in the deals space in China has seen investment entities PAG and Primavera Capital Group lead a $117 million funding round in online unsecured loan lender Dashu Finance, while Fidelity International backed big data service startup Jiguang in its series D round.

PAG, Primavera lead $17m round in Dashu Finance

Dashu Finance, a Shenzhen-based online lender of unsecured loans to small and micro enterprises has raised up to $17 million (RMB800 million) in its series C round led by Asian alternative investment management firm PAG and China-focused private equity firm Primavera Capital Group, the China Money Network reported.

New investor China Everbright Ltd, and existing investor Sequoia Capital China also participated in the round.

Founded in 2014, Dashu caters to small and micro enterprises, as well as select individuals, who are either unbanked or underserved by banks. It provides unsecured loans with an average size of $3,675 (RMB250,000) to its clients.

The fintech startup has so far provided unsecured loans to over 60,000 small and micro companies, having issued over RMB200 billion in accumulated unsecured loans to individuals over the past several years.

Specializing in credit analysis based on big data, Dashu also offers its credit analysis tools to traditional financial institutions like banks.

Dashu has reportedly assisted commercial banks issue micro loans pegged at RMB10 billion, with cumulative non-performing loan ratio of around 2.3 per cent.

Dashu now has 17 offices in China. It previously raised a $73 million (RMB500 million) series B financing round led by PAG in 2015, and closed a $14 million (RMB100 million) round from Sequoia China in 2014.

Fidelity International backs mobile big data firm Jiguang

Fidelity International, according to CMN, has led a series D round pegged at tens of millions of US dollars in Shenzhen-based big data service startup Jiguang.

Founded in 2011, Jiguang is focused on providing user activity analysis for mobile app developers and marketers. It claims to have provided data services to over 500,000 mobile app developers.

Jiguang enables its clients with user activity analysis, precision marketing, financial risk control and location-based analysis.

In 2014, Jiguang completed a million-dollar worth of series A round from IDG, followed by a $10 million series B from Fosun Kinzon Capital, IDG Capital and Mandra Capital in 2015, following which it also received tens of million of US dollars from unnamed investors in June 2016.

Also Read:

HK-based PAG raises $1.3b for first Asia core real estate fund

China: Fidelity launches first private fund for China’s wealthy

Asia to see lower number of VC-backed fintech deals in 2017

DCM Ventures leads $11m Series B in Beijing’s big data firm

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.