JD.com Finance Arm Raises $1.95 Billion at $20 Billion Valuation
The finance arm of China leading e-commerce company JD.com, JD Finance, has raised $1.95 billion (CNY 13 billion). The funding of $1.95 billion raised will value the company at nearly $20 billion (CNY 133 billion).
” JD.com Finance Arm Raises $1.95 Billion at $20 Billion Valuation “
In 2017, the finance arm of JD.com was separated to form JD Finance. JD Finance products includes consumer credit and wealth management products, and currently served 8 million small businesses and 400 million individuals.
In China, JD Finance is competing with the world’s largest fintech company, Alibaba spin-off, Ant Financial, which owns Alipay. JD.com is China’s leading one-stop e-commerce platform, providing 301.8 million active customers. In 2014, JD.com became publicly listed on NASDAQ with a market value of more than $26 billion. The company was founded in 2004 in Beijing by CEO, Richard Liu who has an estimated net worth of around $10 billion.
Investors in JD Finance $1.95 billion round includes China’s leading private equity firms CICC Capital, China Securities, Citic Capital and Bank of China Group Investment (BOCGI).
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