The Ping An-backed trading platform has confirmed the financing, raised at an $18.5bn valuation, and will look to go public later this year.
China-based online financial services provider Lufax confirmed on Friday it has raised almost $1.22bn in series B financing from investors including insurance firm Ping An at an $18.5bn valuation.
The round consisted of $924m in equity funding from investors including the state-owned Bank of China Group, state-owned food producer Cofco, investment bank Guotai Junan and investment group Minsheng Shangyin International, and $292m from its series A backers.
Founded in 2011, Lufax oversees an online peer-to-peer lending and brokerage platform with…
