Harvest, Intime Inject $84M In Credit Card Management App U51

Chinese asset manager Harvest Global Investments and retail giant Intime Commercial (Group) Ltd. has invested a combined US$84 million in a series C+ round in U51.com, a credit card and online financial services mobile app.

The round came just one month after the start-up raised a massive US$310 million in a series C round from Tiantu Capital and Shanghai-listed Chinese investment and trading firm Xinhu Zhongbao Co., Ltd. in September.

Founded in 2012, U51.com, also known as 51Xinyongka or 51CreditCard, plans to use the proceeds to expand product lines and market share, launch new credit card plans, as well as establishing its own industry investment fund with hundreds of millions RMB to make acquisitions.

The ...

This news article comes via , who is the copyright owner of this information and news. FintekAsia.com has licensed the rights to this article and any republication or re-distribution in whole or in part of this content is strictly prohibited without the express consent of China Money Network

You May Also Like