SBCVC Backs Chinese Financing Platform Yooli.Com

Beijing-based Chinese peer-to-peer financing platform says it has received "tens of million dollars" in series A funding from SB China Capital (SBCVC), according to a company announcement.

The specific size of the deal was not disclosed. The company says it will use the proceeds on product research and development.

Launched in February 2013, Yooli has nearly 100,000 registered users and has transacted more than RMB265 million (US$43 million) in peer-to-peer financial products.

China Expert Network