China-based peer-to-peer lending platform Meili Jinrong has raised $65m in series A funding led by Bertelsmann Asia Investments, the local corporate venturing outfit of media company Bertelsmann, China Money Network reported today.
Meili Jinrong operates an online platform for middle income workers to obtain consumer credit from other users.
Meili Jinrong was founded by Liu Yannan, who also co-founded peer-to-peer lending service Yooli, which itself is backed by telecoms firm Softbank’s local investment vehicle Softbank China Venture Capital in 2013.