Date
20 October 2017

Jimubox wins US$10 mln backing from Ventech China, paper says

Jimubox.com, an emerging person-to-person (P2P) online finance platform, has been given a US$10 million injection by venture capital fund Ventech China, National Business Daily reported Tuesday. Other investors have given similar infusions to Jimubox rivals Yooli.com and Renrendai.com, suggesting fiercer competition and possible restructuring ahead for online finance companies, according to some industry insiders. Launched in August, Jimubox.com puts lenders in touch with small firms and consumers that need finance, and has so far played a part in nearly 300 million yuan (US$49.08 million) in transactions, the report said.

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