Shanghai based peer to peer lender Dianrong has raised an additional $70m Series D round, led by ORIX Asia Capital, after raising a $220m Series D in August 2017.
This latest investment in Dianrong follows a $220 million Series D round in August 2017 that was led by GIC Private Limited and included CMIG Leasing and Simone Investment Managers. The monster round comes after its $207 million Series C in 2015 that was led by Standard Chartered Private Equity and followed by China Fintech Fund. Investors from earlier funding rounds included Tiger Global Management, AMTD, Northern Lights Venture Capital, and Max Giant. Founded in 2012, Dianrong makes loans and sells investment products to individuals and small businesses. The company is often dubbed as Lendingclub of China, not only because it’s founded by Soul Htite, co-founder of U.S.-based LendingClub, but also because it shares a similar business model with the U.S. company.