Huayun Financial Leasing has taken part in a $145m funding round for Zhongneng United, while Five Star supplied $21.8m in series B-plus capital.
China-based engineering equipment rental company Zhongneng United yesterday collected a total of nearly RMB1.2bn ($167m) in funding from investors including packaging manufacturer and plastic processing group Five Star.
Five Star provided $21.8m of series B-plus funding for the company while $145m came in a strategic investment by financial leasing services provider Huayun Financial Leasing and financial services firms Industrial and Commercial Bank of China, China Merchants Bank, Bank of Jiangsu and Bank of Ningbo.
Founded in 2016, Zhongneng United rents…
