China Tech Newsletter – July 21, 2015

Alibaba rolls out auto installment loans by partnering with its finance arm Ant Financial and third-party financial institutions such as Ping An Bank.

A loan applicant will receive certificate in half an hour after filling out an application on any of Alibaba’s mobile apps, the company claims.

Classified ads site announces RMB2.2 billion (about US$350m) investment from CITIC CapitalShenzhen Capital GroupChina Jianyin Investment and Govtor Capita. It will go public on China’s New Third Board in October at the earliest. (via Sina Tech)

It was reported earlier that Baidu was one of its investors in this round.

The company announced US$100 million in Series D round of funding in early 2015.

Sleep tracking device maker Sleepace announced the completion of a US$7 million Series B funding round led by Luolai Home Textile (SZ:002293) and joined by Inc.

Gengmei, a mobile app about cosmetic surgeries, announces Series B round of funding led by Vivo Capital and joined by Sequoia Capital.

Didi Kuaidi’s car-hailing service will soon land in Hong Kong. It will partner with car rental companies instead of individual drivers.

Kuaidi’s taxi hailing service, launched in Hong Kong in October 2013, has had 15,000 driver users. Daily orders are more than 20,000.(via Sina Tech)


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