Shanghai based p2p lending platform Dianrong has raised $220m in Series D funding led by GIC. After launching its platform in 2012, Dianrong expanded into services such as supply-chain financing using blockchain technology, as it looks to grow beyond the crowded market in China that has thousands of P2P players.
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Dianrong secures $220m Series D
The Shanghai-based firm will use the funds to automate some of its new branches across China, for research and development and potential acquisitions, Dianrong's co-Chief Executive Soul Htite told Reuters. "Now we've graduated to another level, so people that know finance are also seeing us as someone that is really going to be part of the finance industry," Htite said in an interview. Advertisement Continue reading the main story Hong Kong boutique investment bank AMTD Group acted as financial adviser to Dianrong.
