MiMe completes Series C funding of hundreds of millions RMB | Shunwei Capital
2017–03–31 Shunwei Capital

On March, 31, Shanghai MiMe Financial Information Service Co., Ltd. (hereinafter “MiMe”) officially announced the completion of Series C funding of hundreds of millions RMB. Haier Capital, Ally Capital and Panda Capital are the lead investors, and Shunwei Capital, Everbright Public Earning Capital and TalkingData Capital are co-investors. The current funding will provide a solid financial foundation for MiMe to achieve quality resource integration and obtain comprehensive resource support such as capital, media and data. Strategic upgrading shall be realized with its consolidated market position.
In recent years, waves consumption upgrade has intensified. According to the data, the amount of personal consumption credit volume in China was about 22.6 trillion RMB in 2016, accounting for 30% of GDP and 14% of total credit volume. But compared with the 70% of GDP and 50% of the total credit volume in developed countries in Europe and America, the penetration potential of consumption credit in China is still huge.
In this situation, MiMe promptly joined this industry. Relying on the professional financial team, convenient Internet model and the quality product experience, MiMe has successfully developed various consumption scenes of medical cosmetology, education, travel, affordable luxury, etc. At present, the cumulative number of users has exceeded 1.3 million, and the transaction volume has reached up to 4 billion RMB, with monthly asset growth rate reaching 20%, which is the first in the medical cosmetology installment industry with the market share exceeding 50%. As a professional consumption finance company, the risk control capacity of MiMe is superior to the average market level. The current rate of non-performing asset is below 1/3 of the industry average level, and the quality of quality assets has been recognized by many large financial institutions.
But when facing millions of high-quality female users, development user value in depth remains a major focus for MiMe.
Exploring the online scene is a strategic priority for MiMe in 2017. Based on the team’s professional financial and technical capabilities, MiMe will provide customized credit consumption solutions for online merchants, and explore deeply the potential of the female users by means of installment to maximize their purchasing power.
On this, executive director of Shunwei Capital, Mr. Li Wei, said, MiMe’s two years’ development demonstrated its strong product and risk control capabilities. MiMe is not just a consumer finance company, but a Fintech (Financial Technology) company with strong competitiveness at its core. The core technology platform of MiMe is extremely scalable and will drive MiMe into a boarder field.
Macro ecosystem of women’s consumption is one of the directions under MiMe’s planning. In the future, MiMe will create a macro consumption ecosystem exclusive to female users. In this ecological circle, the C-end users can obtain quality and convenient credit consumption services, and the B-end merchants can get credit consumption solutions customized by MiMe. To realize the upgrading of consumption concept with financial strength is a long-term vision that MiMe has been pursuing.
