Chinese supply chain financing player gets $30m Series B
Linklogis, a Chinese supply chain finance provider, has raised RMB200 million ($30 million) in Series B funding from Tencent Holdings, China Merchants Venture Capital and Bertelsmann Asia Investments.
CITIC Capital and Loyal Valley Capital – both of which participated in a RMB100 million Series A round in August of last year – also re-upped. The company plans to use the new funding to improve its risk control system and offer more credit solutions to Chinese small and medium-sized enterprises (SMEs).
Based in Shenzhen, Linklogis provides short-term credit that helps optimize working capital for suppliers and buyers in different industry supply chains. In addition to helping SMEs obtain loans from traditional institutions, Linklogis works with online peer-to-peer lending platforms, matching borrowers with individual and institutional investors.
SMEs account for up to 70% of China's GDP but it is difficult for them to access capital through conventional channels. A host of online platforms have been set up in recent years to serve as a bridge between individual lenders and small-scale borrowers. For example, last week Dianrong.com raised a $220 million Series D round led by Singapore’s GIC Private.
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