Itouzi, a P2P lending platform, reportedly secured tens of millions of yuan in Series A financing from China Emergency Assistance Investment Co., Ltd. (CEAIC), a state-backed institution that helps companies address fundraising dilemmas (via Tech NetEase).

Different from other similar P2P platforms, Itouzi focuses on addressing the fundraising demands of companies, mainly financing guarantee institutions, or a peer-to-company (P2C) model as defined by the company.

The capital raised this time will be used in team construction and branding, according to Wang Bo, CEO of Itouzi. He noted that the cooperation between the two parties will not be restricted in capital levels. They will also share resources in other aspects in an attempt to dig out the fundraising demands in emergency assistance sector.

Launched in March 2013, Itouzi claimed that its turnover has surpassed 100 million yuan ($16.51 million) as of September last year and exceeded 500 million yuan as of present.

P2P lending sector attracted even more funding recently than last year. Dianrong booked tens of million dollars from Northern Light. Renrendai received $130 million of Series A funding led by Trustbridge Partners. Youli, a P2P lending platform mainly cooperates with offline micro-credit companies, has raised tens of millions of dollars from SBCVC.

Emma Lee

Emma Lee (Li Xin) was TechNode's e-commerce and new retail reporter until June 2022, when she moved to Sixth Tone to cover technology and consumption. Get in touch with her via lixin@sixthtone.com or Twitter.

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