Bertelsmann Asia Investments (BAI) has led an over RMB100 million (US$14 million) series B round in Nongfenqi, an Internet finance start-up specialized in the agriculture industry in China.
The Zhen Fund, Sinolink Securities, as well as existing investors Shunwei Capital, Source Code Capital, Future Cap and Younghua Capital also participated in the round, which is the largest financing in an agriculture financial services start-up in the country, the company said.
"The modernization and consolidation of the Chinese agriculture industry is inevitable, and the trend will accelerate as the Chinese population ages," said Zhao Penglan, a vice president at BAI.
Nongfenqi provides installment payment services to large farming groups and collaborative comm...
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