China's Sunshine Insurance Group Corporation has led a RMB500 million (US$73 million) series C round of financing in QuantGroup, a financial technology start-up.
Fosun Capital, Guosen Hongsheng Investment Co., Ltd., and other undisclosed investors also participated in the round.
"We will cooperate with QuantGroup on credit guarantees for insurance products," said Zhang Ling, an investment managing director at Sunshine Insurance.
Fosun said it hopes that QuantGroup can cooperate with financial tech companies it has invested in the past. The Chinese insurance and investment holding group also established an Internet finance arm in 2015 providing P2P (peer-to-peer) lending and other wealth management products.
QuantGroup, which operates via QuantGroup.cn, provides online financial services including credit-based consumption and...
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