StanChart invests in China’s Dianrong.com

The British bank's PE arm and others have invested $207 million in the P2P lender as the fast-growing industry struggles to come to terms with a clampdown by regulators.

Standard Chartered and others have invested $207 million in peer-to-peer lender Dianrong.com, the Chinese company said on its website on Thursday.

The consortium of investors in the platform, which matches small businesses and savers, was jointly led by the private equity arm of the British bank and China Fintech Fund. China A-share listed Bohai Leasing participated in the financing.

Standard Chartered barely invests in early-stage projects. We generally focus on enterprises at the middle and late stages. This is an exception,” said Zhu Wei, a managing director at Standard Chartered said in the news release.

Dianrong’s Series C-round of funding comes as China’s fast-growing...

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