Ant Financial-Backed Qufenqi Raises $449M In Pre-IPO Investment

Beijing-based installment payment e-commerce firm Qufenqi has raised RMB3 billion (US$449 million) in pre-IPO investment from two A-share listed companies, with participation from existing investors.

The two A-share listed companies are Beijing Phoenix Wealth Holding Group and Hangzhou Liaison Interactive Information Technology, the company said.

China Money Network couldn't verify the identity of Beijing Phoenix Wealth Holding Group, and no listed companies in China match such a name. Qufenqi did not respond to an inquiry to clarify.

At the same time, Qufenqi says it plans to change its name to Qudian to reflect a broader focus of retail products and services.

In January, news leaked to Chinese media...

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