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Automobile-focused P2P Lending Platform Baijindai Secures USD 10 Mln Financing

Ce.cn Finance, 8/17/17

Beijing-based Rongsheng Xinlian Information Technology, operator of online and mobile automobile-focused P2P lending platform Baijindai.com, recently secured a strategic investment of USD 10 mln from Xingda (Singapore) Group Holding.

Baijindai is an automobile-focused financing platform, which allows users to apply for loans to buy a car, and for investors to fund users' loans. Those seeking to buy a car can apply with the platform, which will audit the application materials, and will then post the user's loan request online for investors, according to the company's website.

Rongsheng Xinlian, established in December 2014, has monthly and daily transaction volumes of around RMB 400 mln and RMB 40 mln, respectively, and serves over 210,000 users.

Editor's Note: Xingda (Singapore) Group Holding is a transnational company engaged in industry investment, M&A, and resource integration.

Keywords: Rongsheng Xinlian Baijindai mobile lending automobile Internet P2P online lending VC Xingda

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