EJ Wealth Management, Inc. (Yijie), a Chinese internet finance company, received a strategic investment from Sequoia Capital China.
The amount of the deal was not disclosed.
Led by Ms. Jingbo Wang, founder, Chairman of the Board of Directors and Chief Executive Officer, Yijie is the subsidiary of Noah Holdings Limited (NYSE: NOAH), a wealth management service provider with a focus on global wealth investment and asset allocation services for high net worth individuals and enterprises in China.
It operates “Yuan Gong Bao,” an internet finance platform that provides financial products and services to white-collar professionals in China.
The company intends to use the funds to further expand its product portfolio, strengthen the IT infrastructure and promote the Yuan Gong Bao brand.
Noah plans to expand the Yuan Gong Bao internet finance platform to support a range of additional financial products and services including money market funds, insurance, credit loans, and asset allocation advisory.