Northern Light Invests In Chinese P2P Loan Platform DianRong

Shanghai-based financial service provider DianRong says that the company has received tens of millions U.S. dollars from Northern Light Venture Capital.

The specific amount and valuation of the investment were not disclosed.

Launched in March 2013, DianRong is a P2P (peer to peer) loan and financial services platform for small and medium enterprises in China.

DianRong is founded by Dehai Su, co-founder of LendingClub. One of China’s four state-owned asset management companies, China Orient Asset Management Corporation (COAMC), participates in the company’s management.

As of the end of November, DianRong has more than RMB100 million trading volume and over 10,000 registered investors.

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