P2B Online Lending Platform PPmoney Completes RMB 600 Mln Series C Funding
PPmoney, 7/14/18
Guangzhou-based Wanhui Investment Management (430705.NEEQ), operator of P2B online lending platform PPmoney, recently announced the completion of RMB 600 mln in Series C funding from Guoneng Jinhui Asset Management, Huiyin Deqing Equity Investment Fund Management, Mingtai Capital, and Guotai Daohe Technology. The round gives PPMoney a valuation of nearly RMB 1.2 bln.
At the funding press conference, PPmoney also announced the release of a smart risk management system "Lingji 2.0," which upgrades the big data model building and anti-fraud technology of the previous system and adds more dimensions to ensure the security of user assets.
PPmoney has 13.8 mln registered users and an accumulated transaction volume of more than RMB 1 trln, according to publicly available information.
Editor's Note: The PPmoney platform's financial investment products can be divided according to the nature of the financed enterprise to include state-owned enterprise financing programs and medium- and small-sized financing programs. State-owned enterprise programs use invested funds to pay the enterprise's accounts payable, and do not involve a guarantor. Small- and medium-sized enterprise financing programs typically provide businesses with working capital for business operations, and a third-party guarantor provides security for investments. For more information on this topic, please see P2B Lending Platform PPmoney Completes RMB 375 Mln Series B Funding, MD 12/12/16 issue.
Keywords: Guoneng Jinhui Huiyin Deqing Mingtai Capital Guotai Daohe Internet funding valuation Series C online lending PPmoney Wanhui 430705.NEEQ financial services
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