JD.com's finance affiliate, JD Finance, has doubled its valuation, raising CNY13bn ($1.96bn) in fresh equity at a valuation of almost $20bn. The company is the largest Chinese financial services firm by market capitalisation and boasts more than 100 million customers. It also highlights investor enthusiasm for large, privately-owned Chinese tech firms, even as public valuations stutter.
JD.com's finance affiliate, JD Finance, has doubled its valuation, raising CNY13bn ($1.96bn) in fresh equity at a valuation of almost $20bn. That is over twice its valuation after being split off in 2017 from JD.com. It also highlights investor enthusiasm for large, privately-owned Chinese tech firms, even as public valuations stutter.