US-based cross-border financial product provider Meixin Global raised more than $5m in series A funding on Thursday from investors including media group Bertelsmann.
The round was led by Korea Investment Partners and included Tangzhu Capital and Liuhe Capital. Bertelsmann participated through its regional corporate venturing subsidiary Bertelsmann Asia Investments.
The round was first reported in July 2017, though at the time the amount was not disclosed.
Founded in 2015, Meixin has developed a platform that helps asset managers access institutional investors outside of China, providing access to financial products such as hedge funds, real estate investments and private equity funds in the US.
The money will go towards further platform development, additional product offerings and further international expansion.
Bertelsmann Asia Investments previously led a pre-series A round of undisclosed size in June 2016. That round was also backed by Plum Ventures, Atom Ventures and Taoshi Capital.
Zhao Penglan, vice-president of Bertelsmann Asia Investments (BAI), said “Meixin is laying the ground work for BAI’s fintech portfolio. Global asset allocation for Chinese investors is an undeniable trend.
“We are delighted to see the continued product upgrades that Meixin makes, taking full advantage of technology and making great progress in product innovation.”