Business Insider: One of China’s leading marketplace lenders has raised $220 million to fuel regional growth

August 4, 2017 Industrial Mech

Dianrong, one of China’s leading marketplace lenders, continued the country’s megaround trend this week by raising $220 million in a Series D round led by GIC Private Limited, Singapore’s sovereign wealth fund. CMIG Leasing, a subdivision of China’s largest private investment conglomerate Minsheng Investment, South Korean fund manager Simone Investment, and other institutional and private backers also participated. The funding will go toward automating branches of Dianrong’s lending business, R&D projects, acquisitions at home and abroad, and expanding in Asian markets including Indonesia, Singapore, Hong Kong, Taiwan, Vietnam, Malaysia, and Cambodia, according to the company’s co-CEO, Soul Htite.  Read More.