Chinese internet giants invest $550m in Bitauto unit
Tencent Holdings, Baidu and JD.com have invested $550 million in China-based auto financing platform Yintai Capital. The business was launched by Bitauto, which previously received funding from the three internet companies as well as from PAG Capital.
The US-listed parent company, which will hold a 47% stake in Yintai on a fully diluted basis, will continue to consolidate financials of the unit, according to a statement. Yixin said the data, users,...
More on Greater China
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.