Financials
VC-backed Chinese credit card management app raises $50m
U51.com, a VC-backed credit card management mobile app, has raised $50 million from Shanghai-listed property developer Xinhu Zhongbao.
Temasek completes acquisition of SVB India
Singapore's Temasek Holdings has completed its acquisition of SVB India Finance for INR3 billion ($48 million) and renamed the company. It will now be known as InnoVen Capital India.
China's Renren leads $70m round for US mortgage marketplace
Chinese social networking platform Renren has led a $70 million Series C round for US-based mortgage marketplace LendingHome, bringing the total raised by the company to $109.3 million.
CITIC Capital raises $140m via Cinda sell-down
CITIC Capital has exited its entire holding in China Cinda Asset Management, selling a 1.96% stake in the Hong Kong-listed non-performing loans manager for HK$1.09 billion ($140 million).
China installment payment platform Qufenqi raises $100m
Qufenqi, a Chinese electronics retailer that allows buyers to pay in installments, has raised approximately $100 million in a new round led by Shenzhen-listed games developer Beijing Kunlun Tech.
India digital wallet app MobiKwik gets $25m Series C round
India-based digital wallet app developer MobiKwik has raised $25 million in a Series C round led by Tree Line Asia.
Chinese online finance site 9fbank secures $110m
9fbank.com, a Chinese internet finance platform, has raised a new round of funding worth $110 million.
Legend Capital, SIG lead Series C for China's PPDai
Legend Capital and SIG Asia Investment have led a Series C round of funding for PPDai, which claims to be the first and largest peer-to-peer (P2P) lending platform in China.
Mandala backs Indian agriculture finance business
Mandala Capital has invested INR1.1 billion ($17.9 million) in Sustainable Agro-commercial Finance (SAFL), a agriculture-focused non-banking financial company (NBFC) controlled by India's Jain Irrigation Systems (JISL).
India microfinance: Acorns to oaks
Several large funding rounds – plus the birth of a new bank – have shown how far India’s microfinance institutions have come in just four years. But more is to come, and more VC backing will be required
PEs seek a harvest in rural India
A tractor is one of the most versatile tools on a farm, but it is out of reach for many in rural India because they have no access to credit.
Magma Fincorp raises $80m from KKR, Leapfrog, IVFA
Magma Fincorp, an Indian non-banking finance company (NBFC), has raised INR5 billion ($80 million) from KKR, LeapFrog Investments, and India Value Fund Advisors' (IVFA) Indium V.
Maybank, 1337 Ventures launch fintech accelerator
Malaysian financial group Maybank has set up a financial technology (fintech) accelerator with local early-stage investor 1337 Ventures.
CDH participates in $483m round for Chinese P2P lending platform
CDH Investments has participated in a RMB3 billion round ($483 million) round of funding for Shanghai Lujiazui International Financial Asset Exchange (Lufax), a Chinese peer-to-peer (P2P) lending platform controlled by Ping An Insurance Group.
PE investors to make partial exits from India's AGS, S.H. Kelkar
Three private equity firms – TPG Capital, Actis and The Blackstone Group – are set for partial exits from their Indian investments as payment solutions provider AGS Transact Technologies and fragrances manufacturer S.H. Kelkar both filed for IPOs.
TA sees promise in YeePay's offline offering
China's third-party online market hit RMB8.08 trillion ($1.3 trillion) by gross merchandise volume (GMV) last year. Alipay, Alibaba Group's payment platform, is the dominant player with a 49.6% share, according to consultancy iResearch. Tencent Holdings'...
JD.com invests in VC-backed Chinese payment platform Fenqile
Chinese online retailer JD.com has invested in Fenqille.com, a Chinese installment payment platform backed by several VC investors.
PE-backed Asia-targeted remittance service raises $12.5m
Remitly, a US-based remittance service that targets Asian expatriates, has raised $12.5 million in a Series B funding round led by DFJ.
PE investors commit $96m to Indian microfinance player
A consortium of private equity firms, including CX Partners, CDC Group, NewQuest Capital Partners and Bajaj Holdings, have invested INR6 billion ($96.2 million) in Indian microfinance institution (MFI) Ujjivan Financial Services.
ChrysCapital invests $8.4m in South Indian Bank
ChrysCapital Partners has paid INR527.8 million (about $8.4 million) for a stake in listed lender South Indian Bank (SIB).
CDH invests in Southeast Asia equipment leasing business
CDH Investments has committed an undisclosed sum to Aver Asia Corporation, a Southeast Asia-based equipment leasing business. It is the latest in a clutch of deals the China-based GP has secured outside of its home market.
Sequoia supports Noah's online China financial platform
Sequoia Capital has invested in Shanghai Noah Yijie Financial Tech, an internet finance subsidiary owned by Noah Holdings. The investment amounts to multi-millions of dollars.
Creador commits $24m to Indonesia's Bank Index
Creador Capital has paid IDR290 billion ($24 million) for a 20% stake in Indonesian lender Bank Index Selindo.
Indonesia middle market: Slow-burn story
Indonesia’s middle market is a proxy for the robust services sector, but it is difficult for investors to penetrate and deal flow has been slow in recent years. Are we are about to see more?