G-Banker, the China-based operator of an online gold trading platform, has raised RMB200m ($29m) in a series C round led by Bohai Zhongsheng, a subsidiary of financial services firm Bank of China.
SBCVC, the local corporate venturing vehicle for Japan-based telecom and internet group SoftBank, also took part in the round, as did venture capital firm Radiant Venture Capital and Guangkong Zhongying Capital, a subsidiary of financial services group China Everbright.
Founded in 2015, G-Banker has created a mobile platform that allows users to deposit, sell and buy gold alongside a gold loan services that can be accessed by small to medium-sized jewellers.
In addition to the platform, which manages more than 20 tons of gold assets for a total of more than 1.4 million users, G-Banker also operates more than 40 offline stores.
SBCVC’s contribution to the series C round comes after it provided an eight-figure amount of series A funding for G-Banker in 2015 before leading its $17m series B round later the same year.
The series B round, which included real estate firm Evergrande Group, was followed by an undisclosed amount of funding from Suzhou Investment in August 2016.
– Photo courtesy of G-Banker