CreditEase, a $1 billion fintech investment fund operating out of China, has announced a series of investments in US-based financial technology startups.
The fund, founded in December 2015 by former Donaldson, Lufkin & Jenrette investment banker Ning Tang, has participated in a series C financing round in US electronic bond trading platform Trumid, and a series B round in capital markets corporate access firm, WeConvene. It has also joined a seed round in US-based P2P insurance outfit WorldCover.
An offshoot of the CreditEase marketplace lending platform, the fund has so far made a total of eight investments since its launch, including the new financing rounds announced today. Other portfolio investments include Blockchain-based payments firm Circle, Tradeshift and car finacing startup DYCD.com
Anju Patwardhan, senior partner of CEFIF, says: “We believe the Chinese fintech market will continue to grow in 2017 and beyond, as many 3-5 year-old companies have grown into large-scale operations. We expect many of these to mature into high-quality, mid-to-late stage companies. Similarly, we anticipate a slew of promising early and mid-stage growth companies in the US market, due to the improving climate for investment, as well as the more sustainable development of fintech sector.”