Led · Series A · Mar 2018

Kr Space is a Beijing-based benchmark co-working space company led by President David Zhong that provides flexible workspace, rent reduction, networking opportunities and value-added services for startups and small-to-medium businesses in premium CBD office buildings. The company positions itself to enable rent cuts and workspace flexibility while operating sites in core business districts. It has recently expanded rapidly, taking up nearly 120,000 sqm of office space in China’s first-tier cities over the past three months and securing 14 sites in core areas including Beijing Financial Street, Beijing Wangfujing and Shanghai Lujiazui – Century Link Tower. Kr Space raised 600M CNY in a Series-plus-A round and plans to use the funds to accelerate portfolio expansion with a commitment to reach 300,000 sqm by the end of 2018. The company began running independently from media firm 36Kr in January 2016 and has completed earlier financings, including a Series A funded by Colony New Yangtze Fund, Fenglun, Unity Ventures and Gobi Partners and a 200M CNY Series-plus-A co-led by IDG Capital and Prometheus Capital. KR Space is a co-working space spinoff of technology media and entrepreneur services company 36Kr. The company is presented in the article in the context of China. Prometheus Capital and IDG Capital Partners have invested a combined RMB200 million (about $30 million) in KR Space. The article reports this capital infusion but does not specify the financing instrument or valuation. No operating metrics, use of proceeds, or future plans were disclosed in the piece. The coverage identifies the investors and the amount as the primary financial details available.

Participated · Series D · Aug 2017

Dianrong is a Shanghai, China-based online lending marketplace that provides financial services to small businesses and individuals. The company offers a flexible infrastructure that enables design and customization of lending and borrowing products based on industry-specific data and insights. Its platform is supported by online risk-management and operations tools and provides marketplace lending, lending-related services and fintech solutions. Leadership cited in the article includes Founder and Executive Chairman Soul Htite and CEO Long Hsiang Loh. The company raised an additional US$70m in Series D funding, indicating ongoing capital formation to support its operations and growth. No revenue or user metrics were disclosed in the article. Dianrong operates an online lending marketplace in China that provides loan originations, investment products and marketplace lending solutions for individuals and small and medium-sized enterprises. The platform originates about US$500m in monthly assets for roughly 4 million retail lenders. The company employs approximately 3,500 professionals across 28 offices in China, including about 600 full-time fintech engineers. Recently it acquired the asset-generation operations of Quark Finance, an acquisition the company says tripled its local footprint. Dianrong also launched Chained Finance, a blockchain platform for supply-chain finance developed with FnConn, a Foxconn subsidiary. Concurrent with these expansions, Dianrong completed a US$220m Series D financing to support its growth and product initiatives. Dianrong.com operates an online marketplace lending platform that matches personal and business borrowers with lenders in China. The company also sells banking solutions to large financial institutions, combining technology with risk-management techniques. In June 2014 it launched a wealth-management product, TuanTuanZhuan, which uses backend algorithms and supports millions of micro-transactions daily. TuanTuanZhuan has exceeded RMB 2.7 billion in volume and has earned over RMB 100 million in interest for Dianrong lenders. Founded in 2012 by Soul Htite and Kevin Guo, the company has grown to over 1,700 employees and 18 offices across China. The business appears focused on scaling its lending marketplace and wealth-management offerings while partnering with traditional financial institutions. Dianrong.com is a Shanghai-based P2P lending platform founded in 2012 by CEO Soul Htite. It owns and operates a peer-to-peer lending platform that leverages proprietary technology to lower the costs of underwriting, loan servicing, customer acquisition, account management, regulatory compliance and reporting. The company's technology is presented as central to its operational efficiency and cost reduction strategy. Dianrong.com said it intends to use the new investment to support expansion in the Hong Kong and Mainland China markets. The company is backed by investors including Northern Lights VC and has received additional investment from Sun Hung Kai & Co. Limited. Dianrong.com is a peer-to-peer (P2P) lending platform based in Shanghai that enables members to borrow and lend money among themselves. Launched in March 2013 by Lending Club co-founder Soul Htite and PE fund partner and lawyer Kevin Guo, the company offers free portfolios tailored to each investor’s appetite for risk. Investors can choose optional investment lifecycles of 6, 12, 18, or 24 months. As of the end of November 2013 the firm had an aggregate trade turnover of more than 100 million Yuan (approximately US$16.5m) with more than 10,000 registered investors. The platform's core offering is facilitating peer-to-peer loans and tailored investment portfolios. The company intends to use the newly raised funds to support daily operations and to provide low-risk, high-return financial planning products for general investors.

Led · Equity · Sep 2016

Renrenche, founded in 2014, is a Chinese used-car marketplace that initially focused on second-hand vehicle trading. It has expanded into financial services and is considering a foray into new-car sales. The company reported 21,000 daily active users in December 2017, according to Jiguang. Renrenche has raised roughly US$760 million across six financing rounds, and it recently closed a US$300 million round led by Goldman Sachs with participation from Tencent and Didi Chuxing. The company has been deepening strategic ties with Didi Chuxing—Didi invested US$200 million last September, added a second-hand car sales feature in its app directing users to Renrenche, and the two firms are cooperating on new car retail and offline vehicle maintenance; Didi is reportedly planning to buy 1 million cars from the marketplace over three years. Tencent also participates but has investments in competing marketplaces including Chehaoduo, Yixin and Uxin. RenRenChe is a China-based, three-year-old online peer-to-peer car marketplace that enables car owners to sell directly to other consumers. The platform operates as a classified site covering over 80 Chinese cities and claims about 100,000 car listings. Its core product is consumer-to-consumer used-car listings and related marketplace services. As part of the deal with Didi, the ride-hailer will look to integrate RenRenChe’s service into its apps and contribute to R&D and technical development. The article notes there are no plans to take that integration overseas with Didi’s global partners. According to Crunchbase, RenRenChe has raised about $460 million to date (including the latest investment). RenRenChe is a Beijing-based online used car marketplace. The company operates an online platform focused on used-car transactions. According to the article, it recently attracted a new funding round totaling $150 million. Prometheus Capital and China Minsheng Investment joined the round. The report did not disclose any revenue, user metrics, valuation, or other operational details. No future plans or product roadmap were described in the article.