Zhenrongbao, an mobile-based asset management platform, announced today that it had completed its Series B financing. Sequoia Capital China led this round. CEC Capital served as the exclusive financial advisor to Zhenrongbao.
Launched in August 2014, Zhenrongbao was co-founded Wu Yanan, who has 20 years of experience in asset management, and Li Qiang, who was a senior product manager at Baidu. The platform signed up over 700,000 users in its first year with total AUM reaching RMB 4 billion.
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