CreditEase Fintech Investment Fund has announced three new investments in the US FinTech market.
The fund counts more than $1bn in total committed capital and aims to back growth-stage companies in China as well as global markets.
The three new undisclosed investments announced by the firm are:
- Electronic trading platform for bond markets Trumid’s Series C.
- Online corporate access management ERP provider for capital markets WeConvene’s Series B.
- Peer-to-peer insurance network WorldCover’s seed round.
CreditEase’s FinTech fund’s senior partner Anju Patwardhan said: “We believe the Chinese fintech market will continue to grow in 2017 and beyond, as many 3-5 year-old companies have grown into large-scale operations. We expect many of these to mature into high-quality, mid-to-late stage companies.
“Similarly, we anticipate a slew of promising early and mid-stage growth companies in the US market, due to the improving climate for investment, as well as the more sustainable development of fintech sector.”
The fund aims to invest in the FinTech subsectors of lending, payments, personal finance and private wealth management, enterprise solutions and insurance.
The Fund has made a total of eight investments since launch including the newly announced Trumid, WeConvene and WorldCover deals.
Its other investments include blockchain payments application Circle, buyer-supplier network Tradeshift and auto-financing platform DYCD.com.
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