China-based peer-to-peer lending company Jimubox has raised $37.2m in a series B round co-led by smartphone maker Xiaomi and venture capital fund Shunwei Capital, Tencent Tech reported on Wednesday.
Jimubox receives money from individual investors that is then channelled to individuals, as well as small and medium-sized businesses in China. Other major China-based IT companies such as Alibaba and Baidu have already entered the personal finance market and the investment could be a signal that Xiaomi plans to follow suit.
Vertex Venture Holdings, a subsidiary of Singaporean state-owned fund Temasek, also participated in the round, as did Matrix Partners China and Ventech China.
Ventech previously supplied an undisclosed amount of funding to Jimubox for its series A round in February this year.