Asset Pro, a tech-driven wealth management platform in China, announced it has closed a $35 million Series D+ round of funding led by the venture fund of Ping An Insurance.
The company, which facilitates overseas asset and service transactions, said it will use the proceeds to invest in its SaaS technology infrastructure and big data analytics capabilities.
The market size of China’s wealth management services industry has exceeded $1.7 trillion at a compound annual growth rate (CAGR) of more than 30% over the recent years. According to market analytics firm iResearch, Asset Pro has capitalized on such industry growth and has become the largest overseas wealth management service platform in terms of transactions facilitated in China. Its financial distribution network covers more than 160,000 independent advisors and wealth management institutions.
Founded in 2013, Asset Pro’s SaaS solutions cover nearly all the elements of advisors’ interactions with clients, including business development, product screening, data collection & analytics, CRM and support services. Through Asset Pro’s app, advisors can optimize their targeted marketing and manage their business by providing personalized product recommendations through its proprietary data analytics engine.
Asset Pro said it aims to empower advisors to become more efficient and productive as they utilize and rely on the transaction management and tracking system.
Additionally, Asset Pro has launched a new initiative to invest in the key players of the wealth-technology ecosystem.
Looking ahead, the company said it will continue to seek strategic investment opportunities in wealth management institutions and businesses that will create sustainable synergy with Asset Pro. It said it aims to provide these companies with multi-dimensional support in terms of capital and resources to further strengthen its leadership position in this ecosystem.
written by: CapitalWatch Staff
Media Contact
Company Name: JPM Media Corp.
Contact Person: Selina Cheng
Email: Send Email
Phone: 4086133618
Country: United States
Website: www.capitalwatch.com