Credit card management app U51.com is the latest Chinese fintech startups to land a $1bn-plus valuation joining the ranks of Alibaba’s Ant Financial, Lu.com and Rong360.
The valuation comes as the company announces its $310m Series C round led by Tiantu Capital and Xinhu Zhongbao.
Kuaidi Dache founder Cheng Weixing, HG Capital and Shenzhen Qianhe Capital also participated in the round.
The company’s app helps users to manage their credit card bills, as well as access wealth management products and financial services and apply for loans.
U51.com claims more than 70 million users accounting for 30% of active credit card users in China.
It says it generates monthly revenue of ¥100m ($15m) and aims to hit ¥1bn ($150m) in annual revenue this year.
The new financing follows a $50m Series B round led by GGV Capital, with participation from JD.com and Shunwei Capital.
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