Fintech’s New Big Player: JD Finance Adds $2B, Hits $26-30B Valuation
According to a China Securities Journal report, the China International Capital Corporation (CICC) and China’s largest food processor, manufacturer and trader China National Cereals, Oils and Foodstuffs Corporation (COFCO) are looking to invest US$2 billion (CNY 13 billion) in JD Finance, the fintech spinoff of online retailer JD.com.