Lufax Raises Series C Round at $39.4 Billion Valuation

The $1.3 billion round was led by private equity firm Primavera Capital and reportedly included Qatar Investment Authority, All-Stars Investment, JP Morgan, Macquarie Group and Hermitage Capital; the company was previously considering a Hong Kong IPO but postponed it citing the regulatory environment in China last year; the company has 40 million registered users. Source