SB China Venture Capital Participates in Venture Rounds for Yooli.com and 8trip (Asia)
Source: Yooli.com, 8trip, Asian Venture Capital Journal | Authors: Tim Burroughs, Winnie Liu
Venture capital and private equity firm SB China Venture Capital (SBCVC) has invested US$10 million in a Series A funding round for China-based peer-to-peer (P2P) financing platform Yooli.com. The company, which launched its platform in February 2013, intends to use the capital injection to maintain the growth of its P2P network. In a separate deal, SBCVC participated in an RMB150 million (approximately US$25 million) venture round, led by mainland China-focused private equity fund Vision Knight Capital, for 8trip, a China-based business-to-business online travel website. 8trip, which was founded in 2011, intends to use the fresh funding to improve online services and user experience.