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 Financial, Manbang 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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