Chinese FinTech closes $358m Series D round, a Chinese SME funding platform, has reportedly raised a $357.8m funding round.

The Series D round was led by Geo-Jade Petroleum, a Chinese real estate development and oil exploration and production firm according to China Money Network. Other investors also participated alongside Geo-Jade Petroleum’s industrial fund; however, they haven’t been officially revealed.

Last year, the firm raised an undisclosed amount of Series C funding, which led by China Media Group Co. In 2016, the firm raised a $156m Series B round from Guangzhou Industrial Investment Fund Management Co. Two years after launching, the company raised a $10m Series A round from Shunwei Capital.

Founded in 2013, Caogen Touzi provides investment products for small and medium-sized enterprises (SMEs) and individuals. It also provides collateral loans backed by vehicles and houses, and consumer installment credit products in rural areas.

As of the end of May, the platform has more than 9 million registered users, with 1.15 million active users. The company booked revenues of $62.25m and after-tax profits of $31.13m in 2017.

Earlier this year, China-focused venture capital firm Sky9 Capital hit a $200m final close for its latest vehicle targeting the internet, enterprise, and deep technology sectors.

The firm, which has a presence in Beijing, Shanghai, Shenzhen, and Silicon Valley, has already used Fund III to make investments in companies including ZhaoYouWang, the a B2B e-commerce platform for the petroleum industry, online wealth management marketplace eBroker, social e-commerce platform for home furnishing Home, and Energy Monster, a power bank sharing platform.

In China, 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.

China-based behaviour analysis and solution platform Sensors Data also recently collected a $44m investment from Warburg Pincus. The Series C round also saw contributions from Sequoia Capital China, DCM Ventures, Xiang He Capital, Morningside Venture Capital, Linear Venture and Future Capital.

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