Hangzhou-based Lianlian Group, the parent company of Chinese payment services provider LianLian Pay, today announced that it has received over RMB1 billion (US$146 million) investment from Sequoia Capital and Boyu Capital. The latest development will witness the appointment of Shen Nanpeng, the global executive partner of Sequoia Capital, Chen Yuqing, the general manager of Everbright Industrial, and Chen Bin, the president of Cybernaut, as directors of Lianlian Pay who will be involved in strategic planning of the company, according to local media …

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