DianRong Receives Series B Round From Sun Hung Kai

Shanghai-based financial service provider DianRong has received series B round of financing from Hong Kong-based financial services firm Sun Hung Kai & Co. Limited, according to a company announcement.

The specific investment amount and other details of the round were not disclosed, but media reports say that it could be around US$10 million.

The venture round is part of a wider strategic partnership between the two parties. They plan to cooperate and expand their services in Hong Kong and Mainland China.

Launched in 2013, Dianrong received an undisclosed series A round of financing from Northern Light Venture Capital last December.

DianRong, a P2P (peer to peer) loan and financial services platform for small and medium enterprises in China, is founded by Soul Htite, co-founder of U.S. P2P lender, Lending Club.

One of China’s four state-owned asset management companies, China Orient Asset Management Corporation (COAMC), is listed as DianRong’s business partners.