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
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.