Ant Financial was among the participants in a series C round for the rural microfinance and financial trading provider that was led by Rise Fund.
China-based rural microfinance provider CFPA Microfinance has raised $140m in series C financing from investors including Ant Financial, e-commerce firm Alibaba’s financial services affiliate, Axios reported yesterday.
Rise Fund led the round, which also featured consulting firm Renda Puhui and International Finance Corporation, the private investment arm of the World Bank, as well as China Foundation for Poverty Alleviation, Sequoia Capital China and High Impact Capital Advisors.
CFPA offers microfinance to rural communities in low and middle income groups, supplying…
