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Haier’s finance arm gets new funding to upgrade business

LEZHUAN Financial, the wholly-owned finance subsidiary of home appliance giant Haier Group, announced yesterday to raise about 200 million yuan (US$29.0 million) to develop supply chain finance, consumption finance, wealth management and big data services.

Difference from other online finance firms, Lezhuan’s service will covers 1,000 Haier suppliers, 30,000 Haier outlets and 2.4 million personal investors.

State-owned Qingdao Ronghai Investment Fund led the latest investment of Lezhuan, which helps it upgrade brand, expand services and improve risk control.

Online finance platforms should closely tie up real economy development and link personal life, which makes them more reliable and sustainable, said Wang Wei, Lezhuan’s founder and president.

Founded in 2014, Lezhuan has more than 2.4 million personal investors with total trade volume of 36 billion yuan.


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