Temasek’s Pavilion Capital leads $60m round for Rong360

Existing investors Sequoia Capital, Lightspeed China Partners and KPCB also participated. This brings the total investment in the company to about $1 billion, including a $30 million Series B last year and a $7 million Series A in 2012.

Founded in 2011, Rong360 offers a variety of online finance products, including bank loans, peer-to-peer lending and credit cards. The company claims to have aggregated about 50,000 loan products from 10,000 banks and financial institutions. Its product search services cover more than 100 Chinese cities.

Rong360 has yet to record a profit but it aims to provide loans of more than RMB1 trillion ($161 billion) this year. The company receives commission from both lenders and borrows on each transaction.

The new funding will go towards improving online search technology and increasing risk control capabilities, according to local media.

Pavillion Capital is a wholly-owned subsidiary owned by Temasek, which was launched two years ago with a focus on China.

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• Topics
• Greater China
• Technology
• Financials
• Venture
• China
• Temasek Holdings
• Venture
• Financial Services
• Sequoia Capital
• Lightspeed Venture Partners
• KPCB China Management
• TMT