“TUAN TUAN ZHUAN” CELEBRATES SECOND ANNIVERSARY HAVING FACILITATED RMB10 BILLION OF INVESTMENTSJune 28, 2016
On 16 June, Dianrong’s business, Tuan Tuan Zhuan (TTZ), celebrated its second anniversary. According to official data, investment on TTZ’s platform exceeded RMB 10 billion, equating to 58,900 loans and RMB 395 million of returns for investors.
Data shows that TTZ achieved a compound total investment of RMB 13.27 billion with a growth rate of 91% and accounting for 1.52 million times of investments. Accumulative investment reached RMB 10.4 billion, representing an increase of 266% in the first year.
TTZ has experienced steady growth since going online in June 2014. As of 31 July 2014, just two months after its launch, investment already exceeded RMB 100 million. By 3 March 2015, it exceeded RMB 1 billion, setting an example for the industry.
This growth has been supported by the launch of a number of new services such as Beginners’ Group, Progressive Group and Monthly Repayment Group, which provide investors with a number of a new and flexible long-term investment opportunities.
TTZ has been recognized as an industry leader and has won numerous awards, including a prize by the Sixth Online Finance and Technology committee in 2015 and the 2015 “outstanding product innovation award” by the People’s Bank of China.
As an industry leader in China, Dianrong has received significant investment from Tiger Global, which has also invested in Alibaba and other big internet companies. In August 2015, it also received C round investment from Standard Chartered Private Equity and China Fintech Fund (CFF), which set the record for P2P investment in China. In March 2016, Dianrong became number two in Shanghai for online financial services and took up a senior position at the newly established ‘China Internet Banking Association’.