Retail Investment Product Site Juzi Licai Wins USD 100 Mln Series B
Beijing Times, 1/29/15
Shenzhen-based Qianhai Juzi Information Technology, operator of retail investment product site Juzilicai.com, has won USD 100 mln Series B funding led by DST Global, along with Bertelsmann Asia Investments, Matrix Partners China and China Renaissance K2 Ventures.
Juzi Information Technology founder Xiao Wenjie told Beijing Times that the company is part of the same group as Shenzhen-based student-targeted installment plan consumer electronics e-commerce site Fenqile, with which it works relatively closely. Fenqile loans money to students to buy consumer electronics and collects interest on the loans. Juzi Licai then packages these debts and the associated stream of future interest payments, and sells these packages as investment products to investors on its own platform.
Xiao noted that each of Juzi Licai's investment products packages, on average, the debts of 98 borrowers, and because the loans are for purchase of consumer electronics, the average loan size - approximately RMB 3,500 - is relatively small, amply mitigating the risk to investors.
Juzi Licai launched six months ago, and now sees monthly transaction volume over RMB 100 mln. The platform expects its transaction volume for 2015 to reach RMB 3 bln to RMB 5 bln.
Editor's Note: For more background on Juzi Licai, please see "Retail Investment Site Juzilicai Sees Monthly Transactions Break RMB 100 Mln," MD 1/19/15 issue.
Keywords: China Renaissance K2 Ventures Juzi Licai financial services Qianhai Juzi Information Technology e-commerce Internet funding Bertelsmann Matrix Partners transaction volume installment plan Fenqile Xiao Wenjie second-round Digital Sky Technology online lending
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