Source Code Capital Portfolio Company Cijinrong Announces Completion of Series B Financing, with Existing Investor Source Code Capital Continuing to Increase Stake

源码资本·October 24, 2018·0·0

Super Loan Officer + Credit Factory + Big Data

Cijinrong, a Source Code Capital portfolio company and provider of microfinance solutions for supply chain scenarios, has officially announced the completion of a RMB 120 million Series B equity round. The round was led by CBC Capital, with full follow-on participation from existing shareholders Source Code Capital, Yunqi Capital, and Matrix Partners China.

At the same time, Cijinrong announced that it has secured RMB 40 million in venture debt from InnoVen Capital, a subsidiary of Singapore's Temasek Holdings, and Silicon Valley Bank. The combined Series B equity and debt financing totals RMB 160 million. FanZhuo Capital served as the exclusive financial advisor for this round.

Xingchen Zhang, a director at Cijinrong and investor at Source Code Capital, noted that Source Code Capital led Cijinrong's Series A round. The company's online-offline approach to customer acquisition and risk control has given it a distinctive and clearly visible competitive edge in micro-lending for supply chain finance. Having moved past its initial validation phase, Cijinrong has built clear growth momentum, and Source Code Capital remains bullish on and committed to supporting the company's next stage of development.

Yan Qiang, founder and CEO of Cijinrong, said: "We're deeply grateful for the recognition from our investors, partners, and customers. Securing funding during this period of financial sector rectification and capital winter is no easy feat. Cijinrong has stayed focused on serving micro and small businesses and the real economy — aligned with national policy and regulatory direction — while maintaining inclusive, fairly priced offerings and compliant operations without touching funds ourselves. Microfinance is quite unusual in the fintech landscape, where quality varies widely. The market is vast but the barriers are high, and it's difficult to do well. Cijinrong is already an industry leader in business scale, with excellent risk control performance and sustained profitability. These are precisely why we've won capital's favor."

Yan Qiang, Founder & CEO, Cijinrong

Yan Qiang also remarked with a laugh that over two years of entrepreneurship, especially in the early days when cash loans and property-backed lending beckoned, staying focused on micro and small businesses tested and even tormented the team. But with the backing of his team and investors, Cijinrong is now seen by regulators as a model company, by small businesses as a genuine helper, and by supply chain platforms as a valued partner.

Cijinrong is a fintech company specializing in microfinance services for supply chain scenarios, and one of the largest and best-performing companies in China's microfinance technology sector by asset scale.

Drawing on deep understanding and pioneering thinking around micro, small, and individual business loans, Cijinrong was the first to propose a "human-machine integration, mass customization" model for supply chain finance. The company employs a "super loan officer + credit factory + big data" approach, anchored by its proprietary microfinance big data risk control core — the "Zhanlu System" — combining solid overall risk management capabilities with systematic credit technology. It empowers financial institutions, vertical industry ecosystems, B2B platforms, and SaaS/ERP service providers with end-to-end microfinance services spanning customer acquisition, due diligence, risk assessment, post-loan management, and non-performing loan collection.

Over two years since launch, Cijinrong has steadily grown into one of the representative service providers for supply chain scenario microfinance. The company currently partners with more than 10 financial institutions including China Everbright Bank, Hebei Bank, and Wenzhou Bank on microfinance business, and has established deep cooperation with nearly 100 supply chain platforms including UnionPay Merchant Services, Ele.me, Kingdee, and Guanjiapo Software through scenario embedding and system integration — gradually becoming a "universal adapter" for supply chain finance.

Following this round, Cijinrong will continue to follow the "human-machine integration" direction in line with the trend toward internet-based scenario and data-driven approaches, sustained application of fintech represented by big data and AI, and building core competitiveness around risk control — striving to refine its big data risk control system centered on the "Zhanlu System." At the same time, the company will aggressively expand into supply chain scenarios where micro and small businesses cluster, accelerate its national footprint, and with genuinely inclusive pricing, products that fit actual needs, and an unwavering commitment to doing things the right way, carry the torch for others and help more small businesses overcome financing difficulties and high costs.

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