Beijing-based overseas asset allocation service platform Lixiangjia on Friday announced the completion of a $35-million Series D+ round of financing from funds backed by Chinese insurer Ping An Insurance.
The Series D+ round comes months after Lixiangjia closed $45 million in a Series D round this July. Investors in the previous round remained undisclosed.
Founded in November 2016, Lixiangjia serves Chinese financial planners who manage overseas assets, including stocks, funds, insurance, and real estate products, for high-net-worth clients.
The company, which now offers services to 160,000 financial planners, delivers a range of SaaS systems, such as a mobile app, mini-programs, and a web-based customer relationship management (CRM) platform.
The startup will use the proceeds to improve its SaaS package and data analysis systems, providing more comprehensive and multi-dimensional technologies to empower customers and partners, according to a statement.
Lixiangjia raised 120 million yuan ($17 million) in a Series C round led by Korea’s venture capital firm LB Investment in December 2018.
Bertelsmann Asia Investments (BAI), a China-focused fund owned by international media, education and services mogul Bertelsmann, Shanghai-based Yonghua Capital, and early-stage investment fund Infinity Venture Partners are among backers in its previous rounds, shows the company website.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on November 22, 2019.
