LeEco has invested $27m in a series B round for online finance platform Lancai, which had previously raised cash from investors including Legend Holdings.
Online media and hardware company LeEco has provided RMB180m ($27m) of series B funding for China-based online finance platform Lancai, China Money Network reported today.
Founded in 2013, Lancai runs a platform offering personal investment products for wealthier citizens. Its flagship product, Lancaibao, reportedly promises an annualised interest rate of 7.8% with a minimum investment level of almost zero and instant cash withdrawal available.
The company said Legend Capital, the corporate venturing arm of conglomerate Legend Holdings, supplied it with…
