China-based financial data provider Shanghai Gildata has agreed a RMB 390m ($63.5m) funding deal with three investors, two of which are corporates, China Money Network reported yesterday.
The funding will come from Shanghai China Business Network, a subsidiary of media company Shanghai Media Group, which will invest together with e-commerce company Alibaba’s financial services subsidiary Ant Financial Services Group, and Hundsun-controlled investment firm Ningbo Yunhan Investment Management.
Founded in 2000, Gildata was acquired by financial software producer Hundsun Technologies in 2010. It provides a range of services including analytic tools and a financial database.
Upon completion of the deal, Shanghai China Business Network will own 29.9% of Gildata, Ant Financial 19.1% and Ningbo Yunhan 10%. Hundsun will retain a 41% stake for itself, in addition to controlling the share owned by Ningbo Yunhan.
The deal comes after a company owned by Jack Ma, the founder of e-commerce company Alibaba, paid $530m for a 20.6% stake in Hundsun in April.