Dianrong scales up ahead of possible IPO

One of China's largest peer-to-peer lenders buys Quark Finance's asset-origination arm in ground-breaking M&A deal, a first in the P2P sector.

Dianrong scales up ahead of possible IPO

China’s fast growing peer-to-peer P2P lending industry entered a new stage of development this Wednesday with Dianrong's acquisition of Quark Finance’s asset-origination operations.

Dianrong’s co-founder and CEO Soul Htite told FinanceAsia the MA deal marks the first instance of a “marketplace lender acquiring assets from another lender in either China or the US.”

The deal also underlines the growing power of the industry’s biggest lenders at a time...

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