Chinese content distributor gets a Korean investor

Netflix-like content distributor raised $324 million and set the timeline to list in Hong Kong next year.

Zhejiang Panshi Information Technology, a Chinese digital content distributor based in Hangzhou, announced Wednesday that it received Rmb2.25 billion $324 million from its series D round of fundraising from a group of investors including South Korea’s Hana Financial Group.

The latest funding round was led by Cybernaut Investment Group, an existing investor in its previous funding round, the company said in a statement.

China Construction Bank’s trust fund also invested alongside Hana Financial, one of South Korea’s four biggest financial institutions.

Panshi said its post-deal valuation is over $1.5 billion after this round of investment, up from $490 million...

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