In brief: Chinese digital lender nets series C funding, brings valuation to $39b

• Lufax, a Chinese online wealth management and retail-lending technology platform, has completed a US$1.3 billion series C fundraise, bringing its estimated valuation to US$39.4 billion.
• The company plans to use the proceeds to improve its technology and operations as well as to expand overseas, according to reports.
• Lufax has established asset partnerships with over 300 institutions and provided 11 million active investors with over 5,000 products and customized financial services, said its parent company, Ping An Insurance, in an annual report.

Source: Caixin Global, Yicai Global