HNA-Caissa Travel Group has led a RMB550 million (US$82 million) series B financing round in a travel financial services subsidiary under the HNA Group.
HNA-Caissa Travel, 31.79% owned by the HNA Group, will own 7.94% stake and become the second largest shareholder of Yisheng Jinfu Holding Group, a HNA unit focused on providing travel-related financial services including foreign exchange, overseas money transfer, traveler's checks and consumer loans.
After the investment, which is termed as a connected transaction in a disclosure document filed by Shenzhen-listed HNA-Caissa, the two companies will further cooperate on integrating more innovative financial services to their travel products.
Yisheng Jinfu is expected to reach RMB800 billion in total transaction and clearance volumes this year. After recording a profit for the past two years, the company plans to list in China before the end of 2018.