China’s First largest e-commerce group, JD.com has completed a $1.1bn funding round to grow JD Finance, which has grown business lending 4,000% to ¥4.1bn ($600m) in two years. It also offers wealth management products, insurance and runs a crowdfunding platform. JD.com joins China's BAT (Baidu, Alibaba and Tencent in looking to capitalise on valuations in China’s digital financial services sector. Earlier this month, online lending platform, Lufax, controlled by Ping An Insurance, raised $12.bn valuing it at $18.5bn.
China’s second largest e-commerce group, JD.com has completed a $1.1bn funding round to grow JD Finance, which has grown business lending 4,000% to ¥4.1bn ($600m) in two years. It also offers wealth management products, insurance and runs a crowdfunding platform. JD.com joins China's BAT (Baidu, Alibaba and Tencent in looking to capitalise on valuations in China’s digital financial services sector. Earlier this month, online lending platform, Lufax, controlled by Ping An Insurance, raised $12.bn valuing it at $18.5bn.