Lufax, JD Finance get pre-IPO funding

Ping An's peer-to-peer lender Lufax raises a further $1.22 billion ahead of its expected second-half IPO, while JD Finance raises $1 billion from its series-A funding round.
Richard Liu, chairman and chief executive of JD.com
Richard Liu, chairman and chief executive of JD.com

Lufax has raised a further $1.22 billion from investors, valuing the Ping An-backed group at $18.5 billion ahead of an initial public offering expected in the second half of the year.

The Chinese peer-to-peer lender, founded in September 2011, said on Monday that it raised $924 million from new investors plus an additional $292 million from investors who took part in the previous round of venture capital funding.

The news followed an announcement at the weekend by JD.com, China’s second-largest e-commerce company, that its unit JD Finance raised $1 billion from a series-A funding round.

Lufax, which is short for Shanghai Lujiazui...

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