Dianrong Raises $207 million in Financing Led by Standard Chartered03 September, 2015
Dianrong.com, a Chinese peer-to-peer lending company headquartered in China founded by Soul Htite, former Lending Club employee and Guo Yuhang, a financial services lawyer, has announced that it has raised $207 million in a financing round led by the Private Equity arm of Standard Chartered and China Fintech Fund with participation from Bohai Leasing.
The $207 million investment marks the first time that a direct equity investment in an internet services company has been made by a traditional lender. Highlighting a new chapter in the financial services and fintech industry in China, the funds will be used to boost and expand Dianrong’s operations, products, brand and employees.
Wei Zhu, MD and Global Co-Head of Standard Chartered Private Equity commented:
“Peer to peer lending is a major direction of the global finance industry transformation. It relies on technology to enhance the efficiency of financial services, and would shape the way how future commercial banking will evolve.”The round of financing which saw massive influxes into Dianrong spreads a sense of optimism around the fintech industry in neighboring nations like Hong Kong, where Monexo aims to democratize finance and pioneer the peer-to-peer lending revolution.
See more at: http://www.ftpartners.com/docs/FTPartnersProfile-Dianrong.pdf
Author: Financial Technology Partners LP