The Ping An-backed online trading platform is now the fifth most valuable venture-backed company in the world, securing its latest financing at an $18.5bn valuation.
Lufax, a China-based online financial services platform backed by insurance firm Ping An, has closed a $900m round of financing at an $18.5bn valuation, China Money Network reported today.
The information was disclosed in an investor document seen by Tencent Tech that also revealed Ping An held a 47.5% stake in Lufax prior to the latest funding.
The investors in the round have not been disclosed but local media reports suggested the consortium included Ping An and US-based investment bank…
