Vision Credit, a Chinese omni-channel consumer finance provider, raised a Series C round of financing led by TPG Growth, the middle market and growth equity platform of global alternative asset firm TPG.
The financial terms of the funding round were not disclosed.
The company intends to use the funds to expand its online business.
Led by Stephen Liu, Founder and CEO, Vision Credit provides FinTech financing services to consumers across China. In addition to developing online financing products and services, the company operates over 90 branches. Its mobile apps have more than 40 million downloads, covering products including:
– Kaka Credit, which gives customers pay off credit cards by granting them a “stand-by” credit line;
– Doudou Cash, which serves the young working class; and
– Star Credit, which targets borrowers with an associate degree.
Vision Credit also partners with other consumer service providers including China Mobile to provide customers with installment options for mobile phone purchases.