Bumper JD Finance capital raise extends PE frenzy

The fintech firm's $1.95 billion series-B funding almost triples its valuation. But what does it tell us about the current state of China's private equity market?

JD Finance, the fintech affiliate of JD.com, has closed another bumper round of funding that almost triples its valuation, illustrating how a bubble-like buying mentality still has some hold over the Chinese private equity market.

The company said on Thursday that it had attracted fresh funding commitments totalling roughly Rmb13 billion $1.95 billion from multiple Chinese investors.

It is the latest of several billion-dollar private capital raisings after similar deals by the likes of Ant FinancialManbang and JD Logistics as cash-rich investors chase the next big technology growth story.

“There is a lot of capital flooding the...

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