Rong360.com, a Chinese online finance service platform has secured an undisclosed amount in Series D round of funding from investors who have not been revealed, suggests Chinese news reports.
Founded in 2011 by Ye Daqing (former China’s PayPal general manager), Rong360.com is a online-based financial products search and recommendation engine. Few months ago, it launched a new risk control system that helps consumers get loans of no more than 50,000 yuan as quick as in one day. It also tracks city increased mortgage rates every month for first-time homebuyers, including Bank of China, Industrial and Commercial Bank of China and few other country’s largest lenders.
With the new funds, Rong360.com may plan to open 100 offline finance outlets nationwide offering consumer loan consulting service very soon which were in talks for a while.
The Beijing-based company previously raised funds from Lightspeed Venture Partners, KPCB, Zero2IPO Venture for $7 million in 2012, from Sequoia Capital for $30 million in Series B in 2013 and $60 million from Pavilion Capital Pte Ltd in Series C in 2014.
When enquired at Rong360.com regarding the funding news, it did not respond immediately to confirm the news.