Lufax has raised a further $1.22 billion from investors, valuing the Ping An-backed group at $18.5 billion ahead of an initial public offering expected in the second half of the year.
The Chinese peer-to-peer lender, founded in September 2011, said on Monday that it raised $924 million from new investors plus an additional $292 million from investors who took part in the previous round of venture capital funding.
The news followed an announcement at the weekend by JD.com, China’s second-largest e-commerce company, that its unit JD Finance raised $1 billion from a series-A funding round.
Lufax, which is short for Shanghai Lujiazui...
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