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Credit China interested in acquiring financial services companies in Asia

Monday 13 February 2017 | 01:56 PM CET

Credit China FinTech Holdings is in talks with financial services companies based in Asia outside China, targeting at least one more acquisition by the end of the Q1 of 2017.

The firm's acquisition strategy-which is now focused outside China-has been driven by USD 554 million of funds that it has raised since 2014.

In January 2017, Credit China unveiled a USD 30 million investment in San Francisco-based blockchain technology firm BitFury Group.

Since 2013, Credit China's investments have focused on financial technology-related markets such as third-party payments and peer-to-peer lending, a strategy that boosted transactions on its online platforms to 92.6 million in 2016 from 1.8 million in 2014.

The firm's investments include third-party payments company UCF Huisheng Investment (HK) and a controlling stake in mobile games operator Shenzhen Qiyuan Tianxia Technology. In 2016, the company made its first majority investment outside China by acquiring a 51% stake in Vietnam's Amigo Technologies Joint Stock.

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