Get the free version of Marbridge Daily delivered to your inbox

Click here to subscribe

Mobile Rent Installment Platform 58 Fangdai Secures RMB 8-digit Series D+

Lieyunwang, 4/01/17

Nanjing-based Banghang Investment Management, operator of mobile rent installment payment platform 58 Fangdai, has completed RMB 8-digit Series D+ funding led by Chinese conglomerate Shuangliang Group. After this round of funding, 58 Fangdai will continue to improve its rental market ecosystem and implement its nationwide roll-out of rent installment payment services.

58 Fangdai specializes in rent installment payment services primarily aimed at young people who are faced with difficulties working with traditional rent payment options, such as paying one month deposit plus three months of rent, a half year's rent, and even a full year's rent up front.

The platform has already facilitated close to RMB 1 bln in loans to hundreds of thousands of users. Currently, 58 Fangdai's rent installment payment services have expanded to more than 20 cities including: Beijing, Nanjing, Shanghai, Hangzhou, Tianjin, Zhengzhou, Taiyuan, Suzhou, Wuhan, and Chengdu.

Earlier this year, 58 Fangdai completed USD 8-digit Series D funding led by Chinese internet company Baidu (Nasdaq: BIDU), and with participation from Yingzhi Tianze Fund (a jointly managed fund between Phoenix TV (2008.HK) subsidiary and Huarong Tianze Investment).

Editor's Note: 58 Fangdai operates via an official account on Tencent's (0700.HK) WeChat mobile messaging platform and via a channel within Alibaba Group (NYSE: BABA) affiliate Ant Financial's Alipay mobile payment app. For more information on this topic, please see "Rent Installment Platform 58 Fangdai Completes Series D Financing," MD 1/19/17 issue.

Keywords: Banghang Shuangliang M&A mobile application funding wireless Series D 58 Fangdai installment plan mobile lending


Please note, all fields are required.
None of your personal information will be shared with third parties.



The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily Premium

Interested in gaining full access to all newsletter articles and the Marbridge Daily archive? To learn more about premium subscription options, including pricing, please:

Click here

Marbridge Consulting RSS Feed

Marbridge Reports