Dianrong adds Orix, CLSA investment; eyes M&A

The fintech start-up raises $70m from Japanese and Chinese financial powerhouses. It could use the money to execute acquisitions ahead of a long-awaited IPO.

Chinese online lending start-up Dianrong has added two more big-name backers to its impressive roster of investors, with Japan's Orix putting in $60 million of a $70 million additional series D fundraising round that also included $10 million from financial services firm CLSA.

Dianrong said the extra cash on top of an initial $220 million Series D round led by Singapore government fund GIC in August would be used for purposes including research and development, as well as MA opportunities. The company stressed it remained well capitalised, but said it has made no decision yet on a long-awaited initial public offering.

The deal underscores massive...

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