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Haier Money Raises CNY 500 Million to Spur China's Microfinance Market
Haier Money Raises CNY 500 Million to Spur China's Microfinance Market
Coins of table. Image credit: ISO Republic
Associated Company
EqualOcean EqualOcean

Chongqing-based microfinance company Haier Money (海尔云贷) announced a new funding round on August 12, obtaining CNY 500 million (USD 63.72 million) from China Merchants Capital (招商局资本), a subsidiary of China Merchant Group (招商局集团).

The firm has previously raised capital from various investors such as Amer International Group (正威集团) and Founder Group (方正).

Founded in 2014, the microcredit firm is among the first enterprises of its type that obtained the license from the Chinese government to provide financial services. According to Haier Money's official website, the company's business is built upon three pillars: value (价值), sharing (共享), and ecology (生态). The microlender positions itself as an "Internet community sharing financial ecosystem platform".

EqualOcean projects that China's microfinance market amounted to CNY 972 billion (USD 138 billion) in 2018. We expect it to grow at a 1.7% CAGR in the next three years, hitting CNY 1.04 trillion (USD 147.64 billion) by 2022.

*Contributor: Wang Butao, Sylvia Liang

Enterprise Information

EqualOcean is a leading industry tech media and an investment research company.
CATEGORIES: AI, Research
Last Funding Type
Series C
Number of Employees
200
Number of Funding Rounds
6
Total Funding Amount
26.79M

Enterprise Information

EqualOcean
EqualOcean is a leading industry tech media and an investment research company.
CATEGORIES: AI, Research
Last Funding Type
Series C
Number of Employees
200
Number of Funding Rounds
6
Total Funding Amount
26.79M

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EqualOcean is a leading industrial tech media and investment research company that focuses on technological and industrial innovation in China.

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