China Merchants Capital, a private equity and venture capital firm, led a $100m funding round in Tongdun Technology, a Chinese fintech start-up, with participation from GGV Capital, GoldTech Capital, Everbright, and Xindahanshi Fund. The new round of financing deepens dominant position of Tongdun Technology in the fintech industry. Source from IT juzi shows that direct competitors of Tongdun Technology like Bangsun technology are all valued below $55m which is extremely low compared with Tongdun Technology.