China-based investment management software provider Lixiangjia has secured $35m in series D-plus round financing from funds backed by insurance group Ping An, DealStreetAsia has reported.
Also known as Asset Pro, Lixiangjia provides software and advice for Chinese investors looking to build up a portfolio of assets overseas. It offers consultancy in addition to data on international asset products such as real estate, stocks, funds and insurance.
The company’s offering includes a mobile app and a customer relationship management platform and its customer base includes some 160,000 financial planners conducting wealth management services on behalf of Chinese clients.
The latest round was closed in the wake of $45m in series D funding from undisclosed investors in July this year. Lixiangjia had started the auditing process for an international initial public offering at that time, a source told FinanceAsia.
Growth equity firm LB Investment led the company’s $17.4m series C round in December 2018 according to DealStreetAsia. Its earlier investors include Bertelsmann Asia Investments, a subsidiary of media group Bertelsmann, as well as Yonghua Capital and Infinity Venture Partners.
