US-based cross-border financial product provider Meixin Global has raised an eight-figure amount in a series A round featuring media group Bertelsmann, China Money Network reported on Monday.
Bertelsmann, which participated through its Bertelsmann Asia Investments (BAI) unit, was joined by venture capital and private equity firm Korea Investment Partners (KIP), which led the round, Tangzhu Capital and investment firm Liuhe Capital.
Founded in 2015, Meixin provides a range of financial services it sources and manages, including real estate debt and private placement deals, private equity funds and hedge funds in the US and other developed nations. Much of its custom comes from China, where it operates an office in Beijing.
The company’s clients include wealth managers, independent investment advisors, private funds, family offices and high-net-worth individuals. It intends to invest the cash in strengthening its products and expanding into Korea, where KIP will help it grow.
BAI had previously taken part in a pre-series A round of undisclosed size for Meixin in June 2016, according to China Money Network, investing together with Plum Ventures, Atom Ventures and Taoshi Capital.