China Reform Fund Management Co.,Ltd, a private equity firm backed by China Reform Holdings Corporation Ltd and other central state-owned enterprises, has led a RMB1 billion (US$159 million) series C round in 100Credit, a fintech start-up that uses big data to provide credit services. Existing investor Sequoia Capital China also participated in the round, according to 100Credit’s announcement on its official WeChat account. The firm provides its users with products and services that allow them to manage the lending process across the whole life-cycle of a loan agreement.