P2P Online Lending Site Tuandai Completes RMB 375 Mln Series C

Sina Tech, 10/20/16

Dongguan-based Tuandai Network Technology Service, operator of P2P online lending site Tuandai.com, has announced a RMB 375 mln Series C investment led by Hongshang Guangying Equity Investment Partnership.

Tuandai.com's CEO Tang Jun said the funds would be used to expand its brand strategy and develop its P2P, private equity, agency funds, insurance funds and online small loans businesses.

According to statistics published on Tuandai.com, as of August 2016, cumulative trading volume on the platform had reached RMB 29.5 bln, and total registered users had exceeded 3.68 mln.

Editor's Note: Tuandai announced that it had secured an initial RMB 100 mln tranche of this Series C round in early September. For more information on this topic, please see "P2P Online Lending Site Tuandai Secures Initial RMB 100 Mln Tranche of Series C," MD 9/08/16 issue.

Keywords: Hongshang Guangying Tang Jun Internet P2P Series C online lending Tuandai.com funding financial services VC

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