P2P Online Finance Site Yooli Completes USD 8-Digit Funding

DoNews, 11/15/13

Beijing-based Honghe Boji, operator of P2P online financing platform Yooli.com, has announced the completion of USD 8-digit first-round funding from Softbank China.

Liu Yannan, CEO and co-founder of Honghe Boji, has stated that the company's business model is based on connecting investors with lenders, whose credit rating is assessed by third-party lending institutions, without involvement in the actual transactions that ensue. At the same time, Yooli has partnered with independent third-party guarantors to ensure financial guarantees for loans and interest. The minimum investment amount is RMB 50, with monthly returns paid back to investors.

Launched on February 25, Yooli currently boasts a cumulative transaction volume exceeding RMB 250 mln, with over 70,000 registered investors on the platform.

Keywords: Yooli financial services Honghe Boji Liu Yannan Internet funding Softbank first-round P2P

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