Chinese P2P Lending Platform Dianrong Raises $40M From DFIIG

Shanghai-based peer-to-peer lending platform Dianrong, which raised over half a billion U.S. dollars previously during more exuberant times, has just received a US$40 million investment from Dalian Finance Industry Investment Group (DFIIG), according to a company announcement. The financing is a reflection of the tightening capital market conditions available to Chinese P2P firms, as continuous scandals have shaken the public and investors’ confidence in these online lending companies. The investment follows a strategic cooperation agreement Dianrong signed early this year …

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