Comment on Xiaomi Leads $37M Investment in Chinese Peer-to-peer Lending Site JimuBox by Fintech Trends in China to Watch in 2015 - TechNode

['Tracey Xiang', 'More Tracey Xiang', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar'] Comments for TechNode 2014-09-10 00:00:00

Jimu BoxJimuBox (Jimu means building block in Chinese), an online peer-to-peer lending service, announced today it has raised US$37.19 million in Series B funding led by Xiaomi Corporation, the Chinese smart device and Internet service company, and Shunwei China Internet Fund, a venture capital fund co-founded by Xiaomi CEO and co-founder Lei Jun. There were about 1200 peer-to-peer lending sites in China as of July 2014, according to the latest report released by Chinese online financial product search service Rong360. As Internet-based finance is regarded as one of the next big things in China, most big Chinese Internet companies have tapped into it. Some new financial products tailored for the Internet have been created, such as Alibaba’s Yuebao. It won’t be long before users can buy online financial products on MIUI, the custom Android system developed by the company for its own hardware products and for free download.