Meiliche Jinrong, the automotive-focused spinoff of China-based online lending platform Meili Jinrong, has received RMB239m ($38m) in series B capital from backers including online lender CreditEase’s Financial Industry Fund.
Delta Capital, TH Capital and Beijing Heju Investment Management also contributed to the tranche, which will be added to the $92m the company secured from agribusiness New Hope Group and personal finance management platform Wacai in February this year.
Formed by Meili Jinrong in 2014, Meiliche offers financial services related to automotive purchases, such as instalment financing and car insurance.
Meili’s investors include Bertelsmann Asia Investments and JD Finance, respective subsidiaries of media company Bloomberg and e-commerce group JD.com, as well as Wacai, Morningside Venture Capital and GX Capital.