Chinese P2P lender Dianrong secures funding from SCPE, Affirma Capital

Dianrong leadership team: (from left to right) CEO Long Hsiang Loh, founder and executive chairman Soul Htite and founder and co-chairman Kevin Guo. Source: Dianrong website

Shanghai-based peer-to-peer (P2P) lending platform Dianrong announced that it has completed a new funding round led by Standard Chartered Private Equity (SCPE), the Asian investment arm of Standard Chartered, with the participation of Affirma Capital, the newly-created GP spinout of SCPE.

Financial details of the investment were not disclosed but DEALSTREETASIA reported in April that Dianrong was looking to raise $100 million in fresh funding to give it enough buffer to meet China’s strict capital requirement – Rmb500 million ($74.5 million) for P2P players nationwide.

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