JD Finance eyes US$1b to develop eco-system
Print Edition
NASDAQ-listed e-commerce group JD.com Inc’s financial subsidiary JD Finance intends to raise 6.65 billion yuan (US$1.01 billion) to be used in developing China’s leading financial technology ecosystem.
JD Finance signed an agreement to raise the funds with investors including Sequoia Capital China, China Harvest Investments and China Taiping Insurance. The fundraising is set to be completed in the first half of this year, JD said over the weekend.
“By partnering with top financial and start-up service institutions, we will be even better positioned to create China’s leading financial technology ecosystem,” said JD.com CEO Liu Qiangdong.
JD.com will continue to hold the majority stake in JD Finance after the fundraising.
Domestic Internet companies such as JD and Alibaba Group are becoming increasingly influential in the financial sector as the heavy transactions online provide a strong base for their online payment and financial services.
JD Finance, set up in October 2013, offers consumers financial services like e-wallet and small loans for qualified vendors who sell on JD.com’s platform.
Earlier media reports said that JD Finance plans to list on the strategic emerging industry board in 2017, but JD officials declined to comment.
The board for domestic high-growth and innovative enterprises in the Internet, alternative energy and bio-medicine sectors may be launched by the Shanghai Stock Exchange in the first half this year.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
