Rong360.com, a Beijing-based online private lending search service provider, has completed series C financing of approximately US$60 million led by a subsidiary of Singapore’s Temasek Holdings, according to Chinese media reports.
Founded in October 2011 by former PayPal China general manager Ye Daqing, Rong360.com previously received US$7 million series A financing from Lightspeed Venture Partners, KPCB and Zero2IPO Venture. Last July, the company received US$30 million series B financing led by Sequoia Capital.
The company says it will use the proceeds from the latest round on improving customer experience of searching and receiving recommendations of financial products. It will also strengthen risk control and invest in offline operations.