Chinese conglomerate HNA Group is late to the Internet finance game, but it just secured a massive funding round for a subsidiary aiming to rival Alibaba Group's Ant Financial and JD.com Inc's JD Finance.
Asian private equity firm RRJ Capital has led a US$200 million series A round in Jubao Interconnection Technology (Shenzhen) Co., Ltd., an Internet finance unit established by HNA Group in 2014.
Several Chinese investors, whose identity could not be verified, also participated in the round.
Jubao Interconnection Technology, know in Chinese as Jubaohui, aims to become an integrated full-service online financial platform, the company said in an announcement.
With the latest proceeds, it aims to develop and expand its businesses in online micro-credit, crowdfunding, personal credit rating, third party payment and other Intern...
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