Baidu and China Citic Bank-owned AIBank is looking to raise up to $1bn in the coming months, adding to the $576m in capital provided by the corporates so far.
AIBank, a China-based online lender set up by internet group Baidu and financial services firm China Citic Bank, is seeking up to RMB7bn ($1bn) in funding, people familiar with the matter told Bloomberg yesterday.
The company is aiming to secure the capital within the next few months, though discussions are ongoing and details may change, the sources said. Baidu and AIBank both declined to comment.
AIBank was founded as a joint venture between Baidu and China Citic Bank, and offers…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
