In December, Dianrong co-founder Guo Yuhang put $10 million of his own money into the company to reassure investors.
With the new investment, the company will increase its registered capital from the current RMB 300 million to RMB 500 million to comply with new rules.
Company co-founder pleads with Chinese regulators to give the sector a ‘ray of hope.’
The company said it will continue to scale back its offline services.
As Chinese financial regulators look at Ant Group, they’re thinking about the once high-flying field of P2P lending.
Regional governments have intensified the clampdown on online lenders in recent months.