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E-Life Financial Holdings, HNA Group’s finance unit, has raised RMB 1.9 billion in its latest B+ round funding, following the company’s B-round funding in October 2016 which spun RMB 4 billion. E-Life Financial is now worth over RMB 8 billion, exceeding earlier projections. Meanwhile, another HNA subsidiary Caissa Tourist announced on December 28 that it had decided to walk away from E-Life Financial’s B+ round financing. Caissa’s stockholding of E-Life Financial has been diluted from 8.52% to 6.56% after the deal.
E-Life Financial said that the company targets finance services in the travel sector, covering travel payments, travel financing and travel-related value-added services for tours and transportation, in a model similar to that of American Express. After the company’s latest B+ round, E-Life Financial’s two largest shareholders are HNA Tourism Group and HNA-Caissa Travel Group. Newly added investors in the round include US-based venture capital firm H Capital and Shanghai-listed Pacific Securities. The latest B+ round funding has paved the way for E-Life Financial going public by 2018. According to financial data in the company’s latest disclosure file, E-Life Financial has made profits for three years in a row and has progressed in local and overseas acquisitions. It is worth noting that E-Life Financial’s chairman Mr. JiangTao Liu currently also serves as the chairman of HNA-Caissa. (Translated by Jerry) |
