CreditEase Fintech Investment Fund (CEFIF), a venture fund investing in growth-stage fintech companies in China and globally, has announced that it recently participated in investment transactions in three new fintech companies.
The announcement was made at the 2017 LendIt USA Conference in New York. The three investment transactions include Series C financing round in Trumid, an electronic trading platform for the bond market; Series B financing round in WeConvene, an online corporate access management ERP provider for capital markets; and Seed Round financing round in WorldCover, an innovative peer-to-peer insurance network.
"We are excited to take the global stage and showcase the stars of our CreditEase eco-system. CreditEase is the market leader in wealth management and inclusive finance in China and globally. As China is increasingly embracing financial technologies that rejuvenate economic growth and improve financial health, we are well positioned to continue to address the underserved needs of fast-growing, mass affluent and high-net worth investors”, Ning Tang, Founder and CEO of CreditEase stated. “We are also expanding our various investment funds to meet demands of our wealth management clients and enable them to take advantage of global investment opportunities while ensuring balanced asset allocation."
Founded in late 2015, CEFIF has an equivalent of US$ 1 billion in total committed capital. In its official release, it said that it has formed strategic partnerships with global leading venture capital investors to discover opportunities in five sub-segments within the domain of Fintech: Lending, Payments, Personal Finance / Private Wealth Management, Enterprise Solutions and Insurance. The Fund has made a total of eight investments since launch, including Trumid, WeConvene and WorldCover. Other announced investments include Circle, a blockchain-based payment application; Tradeshift, a cloud-based buyer-supplier network; and DYCD.com, an auto financial technology platform.
"We believe the Chinese fintech market will continue to grow in 2017 and beyond, as many 3-5 year-old companies have grown into large-scale operations. We expect many of these to mature into high-quality, mid-to-late stage companies. Similarly, we anticipate a slew of promising early and mid-stage growth companies in the US market, due to the improving climate for investment, as well as the more sustainable development of fintech sector”, Anju Patwardhan, Senior Partner of CEFIF, said.
