P2P平台点融宣布获4000万美元融资Tencent Tech

What happened: Chinese P2P lending platform Dianrong announced that it has raised $40 million of funding from Dalian Financial Investment Group Co. Ltd. The current round will increase the company’s total funds raised to date to over $500 million. Its previous investors include big titles such as Standard Chartered, GIC Private Limited, Singapore’s sovereign wealth fund, CMIG Leasing, Simone Investment Managers, etc.

Why it’s important: Dianrong is an online P2P lending platform founded by Soul Htite, co-founder and former CTO of Lending Club. The company has become an investor darling since its establishment in 2012. The funding comes at a time when China is experiencing an increasing number of P2P defaults. The financing is even more significant for gaining trust and confidence from investors.

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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