Fintech startup Dashu receives USD 118 million for Series C
Founder: Liu Bo
Founded in: 2014
Financing status: RMB 800 million (USD 118 million) Series C round in 2017
Fintech startup Dashu on Friday received USD 118 million for its Series C financing round to improve its risk control technology.
Dashu is a fintech startup that provides loans to small and micro enterprises that are normally unable to secure funding from the banks. It also provides loans for selected individuals. It runs credit analysis based on big data, and the efficiency of risk control is improved through big data technology.
In addition, the company offers its credit analysis tools to other financial institutions such as banks. Currently, it has helped more than 25 commercial banks to issue micro loans amounting to RMB 10 billion. The non-performance ratio of these loans is around 2.3 percent.
Founded in 2014 in Shenzhen, Dashu has provided loans to over 60,000 small and micro companies. In the last few years, it has issued accumulated loans of over RMB 200 billion to individuals in total.
This Series C financing round was led by Asia’s largest alternative investment management firm PAG and Primavera Capital Group, with existing investor Sequoia Capital China and new investor China Everbright also participating in this round. The capital will be used to improve its risk control technology, as well as invest more on the research and development of new financial services based on advanced technologies.
Big data service provider mobile app Jiguang receives undisclosed Series D in tens of millions of USD
Founder: Luo Weidong
Founded in: 2011
Financing status: 2017 Series D round amounting to hundreds of millions in RMB (tens of millions of USD)
Big data service provider mobile app Jiguang on Thursday received an undisclosed Series D financing round in tens of millions of USD for market expansion.
Jiguang is a big data service provider mobile app that mines data from mobile apps to provide its partners valuable insights on consumer trends, activities and tastes.
It provides its partners with user activity analysis, financial risk control, and location-based analysis services based on big data. In addition, its core product is a third party push notification service for mobile apps. Its partners can make its marketing plans more precise through analyzing user activities and locations based on the data collected from its push notification services. In addition, Jiguang publishes mobile data reports. By doing so, it helps its partners to execute marketing plans with higher efficiency.
Founded in 2011 in Shenzhen, its mobile big data services have covered more than 500,000 mobile apps with more than 700 million gadgets. It has pushed more than 3 billion messages through its platform.
Jiguang previously received a USD10 million Series B financing round from Fosun Kinzon Capital, IDG Capital and Mandra Capital in 2015. This Series D financing round was from Fidelity International. Jiguang plans to use the fund for market expansion, as well as improve its big data technology for further development.
(Top photo from 58pic.com)