Supply chain finance provider Linklogis has collected $220m in its Series C round.
The new burst of capital was led by the Singapore Government Investment Corporation and existing backers Bertelsmann, Tencent, CITIC Capital, and Zhengxin Valley.
There were a number of new investors to support Linklogis including, ProLogis, Skyworth, Oceanwide Investment, Weiguang Venture Capital and China Merchants Venture Capital.
Founded in 2016, the Chinese FinTech company uses AI, big data and blockchain technology to improve the supply chain financing industry. Linklogis helps small and micro enterprises which struggle to reach financing from traditional methods.
The company boosts the visibility of supply chain companies by building a platform which connects both the asset and capital sides.
Huaxing Capital served as the exclusive financial advisor for the round.
Last week, Tencent reportedly invested $180m into Brazil-based challenger bank Nubank to help bolster the company’s payments, consumer loans, engineering and machine learning growth. The firm picked up a minority in the FinTech.
Founded in 2013, Nubank is a digital banking solution for Brazilians that gives consumers access to fair and transparent services. The company provides a mobile banking account, which enables them to send and receive money through transfers including QRs.
Tencent also recently teamed with KKR to acquire a minority stake in the FinTech innovation arm of telecommunications and digital services provider PLDT. The deal will see the two firms pick up a total of $175m worth of newly-issued shares in Voyager Innovations.
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