Jiemian-Cailian Press, an online financial news platform backed by China-based media group Shanghai United Media, has raised more than RMB500m ($71.5m) in series C funding, DealStreetAsia reported today citing a company announcement.
The capital was provided by investors including financial conglomerate Xu Hui Guo Tou and China Internet Investment Fund, the $14.5bn investment fund launched by the Chinese government and backed by several state-owned firms in 2017.
Formed in 2017 through the merger of the Shanghai United-owned Jiemian and Cailian Press, a new media affiliate of financial media company Securities Times, Jiemian-Cailian Press covers international financial news.
The company also provides detailed transaction data through a process boosted by big data and machine learning tools.
Jiemian’s pre-merger investors included consumer electronics manufacturer Xiaomi and cybersecurity software provider Qihoo 360 as well as Hony Capital and Guotai Junan Securities. It also raised $45m in a 2016 series B round led by oil and gas supplier PetroChina’s Kunlun Trust vehicle.
