Chinese Person-To-Business Funding Firm Raises US$80M Round

Zhang Peifeng, chairman of ShenZhen Grand Electronics Co., Ltd., a New Third Board-listed consumer electronics maker, has led a RMB500 million (US$80 million) series B round in, a Beijing-based person-to-business fundraising platform.

Founded in 2013, enables enterprises to secure car and real estate loans while allowing individuals to invest in those enterprises' fundraising projects.

Following the investment, will support Grand's expansion into the financial marketplace, forming a partnership in the fields of automotive, energy and Internet, according to a company announcement.

The company has a history of developing innovative financial products. In 2015, teamed up with Jiangxi Bank to promote a financial product aimed at people playing online games. The product offers cred...

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