Predict your next investment

Venture Capital

See what CB Insights has to offer

About Huabei

The firm is an investment company engages in equity investment and investment consulting.

Huabei Headquarter Location

Yuhang District, Cangqian Street 1399 Liangmu Road, Building 20, Unit2002

Hangzhou, Zhejiang , 310000,

China

86 571 81061638

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Latest Huabei News

Thai fintech Ascend Money rakes in $150m at $1.5bn valuation

Sep 27, 2021

By Verdict Staff Share Article Thailand-based fintech startup Ascend Money has raised $150m in a Series C funding round, which valued the company at approximately $1.5bn. Charoen Pokphand Group, which is a major shareholder in the firm, led the round with participation from Bow Wave Capital Management and existing investor Ant Group. Ascend Money plans to use the capital to enhance its digital product offering and expand its services across Southeast Asia. Founded in 2013, Ascend Money offers financial services such as digital payment (via TrueMoney), microfinance, personal loan, wealth management and insurance brokerage. Ascend Money founder and chairman of the board Suphachai Chearavanont said: “The company’s success is also a testament to Thailand’s capability and strong ecosystem to support domestic fintech firms and startups for overseas expansion.” The fintech currently operates in Cambodia, Indonesia, Myanmar, the Philippines, Thailand, and Vietnam. Ascend Money said to serve 50 million customers through TrueMoney and offline channels and last year its payment volume stood at $14bn. Earlier this month, Ascend Money’s investor  Ant Group  was ordered by the Chinese authorities to split the back end of its two lending businesses Huabei and Jiebei from the rest of its financial offering. Later, Huabei revealed that it was being integrated into China’s credit reporting system. As part of the plan to tighten the regulatory grip on the financial institution, Huabei has been integrated into the credit reporting system, which is a joint venture partly owned by the country’s central bank.

Huabei Team

1 Team Member

Huabei has 1 team member, including undefined undefined, undefined.

Name

Work History

Title

Status

Jie Zhang

Founder

Current

Name

Jie Zhang

Work History

Title

Founder

Status

Current

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.