Previously, Ppdai received US$25 million series A funding from Sequoia Capital in September 2012.
Founded in 2007, the company says it is the first online P2P lender approved by China’s State Administration of Industry & Commerce. The company claims it has around 2 million registered users.
In other recent deals in the Internet lending space, Yooli.com received tens of million dollars in series A funding from SoftBank China Venture Capital last November. The following month, Northern Light Venture Capital invested tens of millions U.S. dollars in DianRong.
In January, Renrendai received US$130 million series A funding led by Trust Bridge Partners, and Ventech Capital invested tens of millions U.S. dollars in Jimubox.com this month.