China-based small and micro loan provider Dashu Finance has picked up a $115m in its Series C funding round.
Backers to the round included PAG, Chunhua Capital, Sequoia Capital China Fund, Everbright Holdings and Huaxing Capital.
The company supplies small and micro-businesses with unsecured credit from institutional investors. Customers can take out loans for education, corporate credit, rent and cars.
The capital will be used to build its technology and the expansion of its new product lines.
Chunhua Capital founder Hu Zu Liu said, “Financial technology has been the focus of the direction of Chunhua, we are highly optimistic about the large number of financial teams and the creation of the third generation of small micro – loan technology.”
Following this influx of funding, the total amount raised by the company has reached around $211m, with the Series B pulling in $77m late 2015.
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