Wealth management platform Golden Axe has collected around $15.9m in a funding round led by Chunxiao Capital.
Other commitments to the investment came from Sequoia Capital and Beijing Capital.
Founded in 2016, the company is a digital platform to help high-end investors to access the investing space. The China-based company offers a selection of private equity funds to back including equity funds, outstanding equity funds, and outstanding unicorn funds. The platform provides users with tools to search prices, net value, and wealth accounting.
Funds from the round will be used to further its expansion and quality of the wealth management platform. Golden axe is looking to grow its management team, develop its private equity registered users, implement asset allocation and further develop the technology.
Golden Axe founder and CEO Zhang Kaixing said, ?At present, we are also launching a large-scale employee equity incentive plan to attract more talented people to seek common development, and the idea of ??’being a golden axe to be a partner’ is further implemented. In the future, the valuation of a technology-based wealth management platform is expected to exceed the lead platform of traditional wealth management institutions by 5-10 times or even more.”
The company is reportedly in negotiations for further financing, according to the company.
Earlier in the month, Chinese mobile payment giant Alipay closed two partnerships in North America to support its expansion to the region. The company formed deals with Openpay (Mexico) and US-based FreedomPay, enabling Chinese consumers to purchase products internationally through the app.
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