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Online lender Jimubox raises $84m from investors

BEIJING-BASED online lender Jimubox announced US$84 million C-round fund-raising yesterday, with UK banking and asset management group Investec leading the investment.

Mandra Capital, Zhong Capital Fund and Haitong Kaiyuan Investment Co also made investment to be Jimubox's new shareholders.

Dong Jun, president and chief executive officer at Jimubox, said funds will be mainly used to expand offline sales channels and risk management.

Launched in 2013, Jimubox had lent a total 5.8 billion yuan (US$936 million) through its peer-to-peer lending platform by April 20. The company gathered US$47.2 million from its fist two rounds of capital raising last year.

P2P lending, which promises higher interest rates and even higher returns without going through the banking system, attracted a transaction volume to a monthly high of 49.3 billion yuan in March in China, said Online Lending House, a website that tracks the sector.


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