Existing investor Kunlun Tech has provided $27m for the round, which the instalment buying platform is raising as it gets ready for a flotation in China.
Qufenqi, the China-based instalment buying e-commerce platform backed by payment services provider Ant Financial, has raised an undisclosed amount of funding from unnamed investors, China Money Network reported yesterday.
Although the precise amount Qufenqi has raised through the round has not been revealed, gaming company Kunlun Tech has invested RMB180m ($27m) as part of it, Reuters reported today.
In addition to the funding, Qufenqi has dismantled its variable interest entity structure in order to prepare for an initial public offering…
