Financial 360 round of financing more than 60 million US dollars

Each journalist Zhu Dandan came from Beijing

Yesterday (July 23), "Daily Economic News" reporter was informed that last August received Sequoia lead the 30 million U.S. dollars in Series B financing, the online financial search platform to melt 360 announced the completion of round C financing. The main investor is Singapore Pavilion Sovereign Fund Temasek set up in 2012 sole proprietorship - Lanting Pavilion investment (PavilionCapitalPte), so far to get 360 total investment amount of over 100 million US dollars.

"C round of funding is mainly used for search, recommendation and service product optimization and user experience to enhance, and will increase investment in line and strengthen risk control capabilities.In addition, team building is also an important one, the need to expand Internet and financial integration Compound talent. "Melting 360 co-founder, CEO Ye Daqing pointed out.

At present, more and more capital to participate in the field of P2P network loans, many platforms also intend to market. In response, Ye said that the listing of investors did not require the company, so there is no listing of timetable.

The current round of financing more than 60 million US dollars

"Previously involved in the financing of the first two rounds of financing 360 light speed Anzhen China Fund, Sequoia Capital, KPCB and other institutions involved in the financing.About the specific amount of this financing, for public relations policy reasons for the temporary confidentiality." Ye pointed out that .

According to the financing amount information of the first two rounds (A round of 7 million U.S. dollars and B round of 30 million U.S. dollars), the financing scale of this round of financing is about 63 million U.S. dollars.

Ye pointed out that rounds of negotiation before and after round C did not exceed two months. In the first two rounds, the investors such as Light Velocity Anzhen China Fund, Sequoia Capital and Kay Peng Huaying China Fund all increased their investments. The reason for this financing is faster than originally envisaged. First of all, the capital market clearly optimizes the model of vertical search, recommendation and service platform of finance. It believes that this model will bring innovative value to the change of the financial industry chain. Second, investment institutions are optimistic about the status of financial 360 in the Internet finance industry and the entrepreneurial team's grasp of the general direction of financial search strategy.

At present, there is a strong market demand for the comparison service of wealth management products. With the explosive growth of wealth management products nowadays, de facto market-oriented deposit rates make up too many wealth management products. There is a wide gap between the benefits of different wealth management methods, making it difficult for wealth management users Comparison and selection In 2013, the third-party financial product inquiry platform started to appear successively, for example, the search and comparison of the main P2P products such as the home loan network. However, there are no special platforms for information collection and query comparison in Internet banking and bank management .Therefore, financial 360 financial search just make up for this market space. "Ye Daqing pointed out.

He further emphasized that the key to financial search is based on the exact matching of big data, rather than providing the bank with traffic as commonly understood. The accuracy of vertical financial search, high user intent and high matching make banks and users greatly reduce the loss, improve the success rate, and better user matching greatly increase the loan success rate. Through the online application of loan applications and big data technology, there is a distinct value in reducing information asymmetry and reducing transaction costs for fund suppliers and sellers, but this is only the first step. From the variety of loans to the whole industry, evolved from the trading platform for the service platform, the future of financial search there are many imagination.

Investors no requirement for the company to go public

Recently, the United States P2P website LendingClub announced the second half of this year to start listing and plans to raise 500 million US dollars. There are also many domestic Internet financial platform is listed on the layout, which, easy to credit network for 3 years to 4 years, access to capital markets; 91 financial also said before the listing in 2016 no problem.

In an interview with a reporter such as "Daily Economic News," Ye Daqing pointed out that investors do not have any requirements on the listing of the company and there is no timetable for listing. The company's desire to be everyone's financial partners, the most valued at present is to do a good user experience, and customer experience do a good job to address financial institutions, marketing efficiency, risk management issues. Future business direction of the company is still to search for recommendations and services model and maintain the "light asset" approach, and continue to promote financial easy.

Chai Yajun, general manager of southwest headquarters of Japan Securities, also believes that if P2P companies are going public, they still have to further explore the business model while changing the existing unsustainable high-profit model into a continuously profitable business.