Peer-to-peer lending platform Duanrong has now raised $69m altogether, after securing series B funding from pharmaceutical company Furen.
China-based peer-to-peer lending platform Duanrong has secured RMB390m ($59m) in series B capital from pharmaceutical firm Furen Group, China Money Network reported on Tuesday.
The investment will make Furen the largest shareholder, though Duanrong’s founders will retain control of the company. The round was closed at a post-money valuation of approximately $150m.
Founded in July 2014, Duanrong operates a website and smartphone apps through which users can borrow money from other individuals. Details on what the company hopes to do…
