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In brief: Tencent and JD invest in auto financing startup, Linkfin Technology

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  • Shanghai-headquartered fintech startup, Linkfin Technology, has closed a US$50 million Series B equity financing round.
  • This round was jointly led by JD Digits and Tencent. Bertelsmann Asia Investments, which was the investor for the company’s Series A round, also participated in this round.
  • The current valuation of the startup, which was founded in June 2017, was not disclosed.
  • By linking with small and medium sized banks in China, Linkfin Technology provides auto-backed loans to micro and small businesses and individuals who are in need of cash.
  • JD Finance, an app of JD Digits, has been directing its users to Linkfin, according to Chinese media outlet, The Beijing News.
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Source:KrASIA
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