Fumi Technology, a China-based security trading data platform backed by smartphone producer Xiaomi, obtained RMB250m ($36.3m) in funding on Friday from Gopher Asset, a venture capital division of wealth management firm Noah Financial Wealth Management.
Founded in 2016, Fumi Technology has developed a commission-free securities brokerage called Webull and operates a real-time securities trading data and financial market analysis platform for individual investors. The company is active in Hong Kong and the US.
The funding will go towards product development, research and development, and towards Fumi’s international expansion efforts.
Fumi previously obtained $30m in a series B round led by investment bank Bojiang Capital in July 2018, with contributions from unnamed, existing shareholders.
Bojiang had already backed a $17.4m series A round led by venture capital firm Hongdao Capital in 2017, adding to $7.3m in angel funding supplied by Xiaomi and Shunwei Capital in 2016.
