Robyn Mak Last Updated at January 18, 2016 22:03 IST JD.com is copying larger rival Alibaba with its own black-box finance unit. China's second-largest e-commerce group has just completed a fundraising which values its financial division at $7 billion. But investors can only guess at the subsidiary's financials. JD.com is a relative latecomer to the business of lending to web suppliers and consumers. At the end of 2013, it had outstanding loans worth just 100 million yuan ($15.2 million). By the end of September last year that figure had ballooned to 4.1 billion yuan. The loss-making online retailer currently finances these loans ... First Published: Mon, January 18 2016. 21:32 IST
China ’s second largest e - commerce group , JD.com has completed a $ 1.1bn investment round to grow business Finance , which has grown business lending 4,000 % to ¥ 4.1bn ( $ 600 m ) in two years . It also offers wealth management products , insurance and runs a crowdfunding platform . it joins China 's BAT ( Baidu , Alibaba and Tencent in ##dices to report on valuations in China ’s digital financial services sector . Earlier this month , online lending platform , Lufax , controlled by Ping An Insurance , raised $ 200 valuing it at $ 18.5bn .