Chinese online retailer JD.com's financial arm has injected an undisclosed amount of funding into Meili Finance, a Beijing auto credit company.
The investment allows JD Finance to extend its consumer credit business into auto finance, which usually requires a license from the banking regulator.
Meanwhile, the funding will give Meili access to JD Finance's risk control and credit checking expertise.
Meili has been working exclusively with a second-hand car sale market in Beijing, said to be the largest in China, offering loans.
The company has delivered a total of 250 million yuan credit to 30-thousand auto buyers.
