BlueRun commits $10m to China securities trading site
BlueRun Ventures has committed $10 million in a Series A round of funding to Mazhan.com, a Chinese online margin trading platform.
The company was founded in September last year by Bin Xu, a former investment banker. It provides a platform for individual investors to trade on margin, allowing them to borrow additional money to purchase A-shares.
Xu told local media that the company has developed its own online system to track users' transactions. If a user makes consecutive losses and reaches certain principal amounts, the system will stop them from trading. The platform has attracted thousands of registered users, with daily trading volume in the tens of millions.
Mazhan plans to launch portfolio investment products for investors, which will operate under a similar model of US-based online broker Motif Investing. The new funding will also go towards continued efforts to improve risk controls and investor protection.
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