Jet.com, the e-commerce company challenging Amazon, has raised $350 million in new funding and says another $150 million is on the way. The company says it will spend the money on marketing, hiring and customer support. Fidelity Investments led the round, with participation from previous investors. Jet also expects to obtain $125 million in debt financing, including a $50 million increase in a credit line from Silicon Valley Bank.
Yixia Technology, the Beijing-based maker of the mobile video app MiaoPai, has completed a $200 million Series D funding round led by Weibo. Sequoia Capital, YG Entertainment were among the other investors participating. The company also announced a $100 million mobile video and entertainment fund to back startups. MiaoPai allows users to take 10 second videos and share them on social networks such as Wechat.
Wepiao, a China-based mobile ticketing platform, has raised $235 million in Series C funding. Beijing Cultural Assets Chinese Anci Films & Television Fund led the round, with participation from CITICS Prosperity Fund, GGV Capital, Southern Capital, Gopher Asset of Noah Private Wealth Management, New Hope Group and previous backers Tencent, Wanda and INLY.
PhishLabs, a cybersecurity startup, has closed a $7 million Series B investment round from Fulcrum Equity Partners. The company focuses on preventing phishing attacks and data breaches. “PhishLabs has gained unmatched expertise and deep domain knowledge from fighting back against real-world phishing threats,” said Frank X. Dalton, partner with Fulcrum Equity Partners. “They are uniquely poised to help organizations solve their phishing problems.”
Lenda, a platform allowing homeowners to refinance their mortgage completely online, has closed a $2 million seed funding round led by Lakestar and existing investors Rubicon Ventures and 500 Startups. “Despite the exponential growth of online lending products and services in the U.S., the mortgage industry has been one of the slowest to adapt to consumer demands for easier, faster and more transparent experiences,” said Jason van den Brand, Co-Founder and CEO of Lenda. “Homeowners can complete an entire mortgage application within 45 minutes from their computer, 24/7, and have their loan funded in under three weeks while saving tens of thousands of dollars.”