China Renaissance Private Equity Fund, a private equity arm under China Renaissance focused on investing in growth-stage and mature Internet firms, has led a RMB200 million (US$29 million) series B round in Dadao Financial, a Shenzhen-based real estate financing services platform.
Sequoia Capital China and Asian private equity firm PAG also participated in the round, according to a company announcement.
Founded in 2015, Dadao provides financing services for people involved in second-hand property transactions. Its products include Jiaoyibao, a real estate insurance product guaranteeing the safety of assets during transactions, and Jishidai, which provides fast mortgage loans for as little as in three days.
The company has partnered with a number of banks including China Construction Bank, China Everbright Bank, and China CITIC Bank ...
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