China-based travel-related financial services firm Yisheng Jinfu has received RMB550m ($82m) in a series B round led by travel services provider HNA-Caissa Travel, China Money Network reported today.
HNA-Caissa Travel will hold a 7.94% stake in the startup following the transaction. Yisheng Jinfu is a subsidiary of conglomerate HNA Group, while HNA-Caissa Travel is 31.8% owned by the conglomerate.
Yisheng Jinfu provides a range of financial services to tourists and international travellers such as foreign exchange, overseas money transfer, cheques and loans.
The two companies will increase their collaboration on integrating more of each other’s products.
Yisheng Jinfu has not disclosed details about previous funding round but is expected to file for an initial public offering in China before the end of 2018.