China-based Fandsiling said to bag $80.3m round


China-based Fangsiling has reportedly received an $80.3m Series F round led by 9f Bank.

The company offers a rent installment payment platform that helps young tenants with paying deposits to landlords in an installment basis, according to a report by China Money Network. Fangsiling has helped to provide around $2bn in loans for young tenants across 20 cities, the article reports.

Last year, the company closed a $45m Series E round from Chinese investment firm Mingdaojinkong, 9F Bank, Will Hunting Capital and, the article said.

There have been a several FinTech investments in China this year. Health insurance platform The CareVoice netted a $2m round co-led by Haitao Capital and SOSV. The company raised the capital to boost its technology development and push expansion across China and SouthEast Asia.

Last year, the China FinTech sector was dominated by the payments & remittances and marketplace lending sectors. Together the sectors accounted for more than two thirds of the capital deployed to the country.

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