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.’
Dianrong announced that it has raised $40 million of funding from Dalian Financial Investment Group.
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.
This week, Andrew Polk, partner at Trivium China, joins us to discuss what’s happening with the P2P lending industry in China.