JD.com's financial arm raises 13 billion yuan

JD Finance, the finance arm of China's second-largest e-commerce giant JD.com, announced on Thursday the B-round fund raising deal of 13 billion yuan($1.94 billion).

JD Finance has signed capital increase agreements with investors including CICC Capital, Bank of China Group Investment Limited, China Securities Co Ltd and CITIC Capital Holdings Limited, lifting its valuation to 133 billion yuan, said the company's statement.

According to conventional conditions, this round of fundraising is expected to be completed in the third quarter of 2018.

JD Finance will adhere to the digital technology strategy and increase input in data and technology sectors, said Cheng Shengqiang, JD Finance CEO.

Up to now, the company has offered services to more than 700 financial institutions, and is working with financial institutions to serve the 8 million small and micro merchants and 400 million individual users both online and offline.

JD Finance completed the A round fundraising of 6.65 billion yuan in January 2016, taking its valuation to 46.65 billion yuan.