Existing shareholders Ant Financial and Fosun are reportedly looking to participate in a round that would allow MyBank to increase its lending capabilities.
MyBank, a China-based online lender spun off from e-commerce group Alibaba’s financial services affiliate, Ant Financial, is seeking RMB6bn ($871m) in funding at a $3.5bn valuation, Bloomberg reported yesterday.
Ant Financial and another existing shareholder, conglomerate Fosun International, are among those considering a commitment to the round, a source told Reuters, though both corporates declined to comment.
Founded in 2015, MyBank operates an online lending platform that uses artificial intelligence to analyse more than 3,000 variables and tap into existing…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
