Qingdao Ronghai Leads $29M Round In Chinese Fintech Start-Up Hairongyi.Com

Qingdao Ronghai State-Owned Asset Management Company, an investment entity owned by the state-owned asset management office of Licang district in Qingdao city, has led a RMB200 million (US$29 million) series A round in Hairongyi.com, a financial technology start-up backed by Haier Financial Holdings.

Ronghai made the investment via its wholly owned subsidiary Qingdao Ronghai Financial. Haier Financial is a unit of Qingdao-based consumer electronics company Haier Group.

The deal is part of Haier Group's push into financial technology. Last month, Haier signed a strategic partnership with the Shanghai government to cooperate in the areas of high-end smart manufacturing, smart home appliance solutions, smart cities, smart supply chain as well as fintech.

Chinese companies operating in traditional industries such as manufacturing are try...

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