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Meridian Capital’s beneficiary treefinance.com.cn received 40 million Series A investment

2017-1-24 14:24:36

Today, treefinance.com.cn, a beneficiary of Meridian Capital, formally announced to have completed 40 million Series A financing, the investor is Kaitai Capital, the post-investment valuation is approximately 400 million yuan. Operated by Hangzhou Tree Network Technology Co., Ltd, treefinance.com.cn is its subordinate online platform for credit loan, Meridian Capital is its Pre-A investor. treefinance.com.cn provides unsecured T+0 credit loan with credit line ranging from 5000 to 100,000 yuan, whose repayment cycle is 6 to 36 months. Currently, this service has covered 23 provinces across the nation, and recorded profit-earning since August 2016. According to data from Tsinghua University Research Center, the total existing amount of China’s consumption credit market has reached 24 trillion in 2015, the annual average growth rate of the trading size topped 30% between 2010 and 2015.

Apart from treefinance.com.cn APP, Tree Finance also provides treefinance.com.cn SDK, and has established cooperation relationship with more than a dozen organizations including xncredit.com, and zac.cn, by adopting B2B2C cooperation model. Li Jun, CEO of treefinance.com.cn, was previously co-founder and President of “u51.com”, responsible for credit products of “Instant Loan”, “Hour Loan” (later renamed “Character Loan”), with 12 years of experience in credit card operation. Co-founder and CTO Li Zhiguo has 13 years of experience in IT industry, and 8 years of experience in financial field, previously he worked for BenQ, Germany-based GIZ, US-based State Street Corporation, and u51.com. Internet banking has long been one of the segmented fields attracting focused attention from Meridian Capital. It has made a complete range of deployment in financial segmented fields covering automobile, housing, securities, insurance, and wealth management. In the future, we will continue to monitor investment opportunities in segmented fields including consumption finance, supply chain finance, Internet application of traditional financial institutions, and disposal of non-performing assets.