China-based online finance platform Lantouzi has closed a $21m series A round featuring Bertelsmann Asia Investments, the Chinese investment arm of Germany-based media firm Bertelsmann, China Money Network reported yesterday.
The round also included China-based venture capital firms Ceyuan Ventures and Source Code Capital. Private investor Xia Zuoquan, a director of electric vehicle and battery maker BYD, also participated.
Founded in April 2014, Lantouzi offers financing services to small and medium-sized businesses and wealth management services for individual investors.
Source Code Capital, Sequoia Capital and Xia Zuoquan have all provided funding for Lantouzi in the past, and the company raised about RMB 10m ($1.6m) in seed funding in September 2014, according to Chinese financial data website Investide.