The JD.com financial services spinout, which is backed by China Taiping Insurance, is in the process of raising a second funding round at a $7.3bn valuation.

JD Finance, a financial services spinout of China-based e-commerce business JD.com, is raising additional capital at a RMB50bn ($7.3bn) valuation, China Money Network reported on Thursday citing an unnamed source.

Investors will be required to supply at least RMB200m in cash in order to take part in the round, though details of its target size have not been revealed.

JD Finance has committed to conducting an initial public offering within five years and in the event that a flotation does…