Renren Ucredit, the parent company of P2P lending service Renrendai, reportedly booked $130 million of Series A funding led by Trustbridge Partners ($65 million) and an undisclosed institution ($65 million) (source in Chinese). The angel round is raised from Honghe Venture Capital in 2010. [Update: Renren Ucredit officially announced the news on Jan. 9]

Renrendai adopts an operating model similar to Lending Club’s when it was launched in 2010, mainly focused on online micro-credit business. The company integrated with offline lending service Ucredit in 2012.

According to data released by the company, Renrendai’s turnover surged 276% year-over-year in the first half of 2013, hitting 1 billion yuan ($165.2 million) as of August of 2013.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.