China-based peer-to-peer lending platform Ppdai, has raised almost $100m in a series C round co-led by Legend Capital, a subsidiary of conglomerate Legend Holdings, China Money Network reported on Friday.
The round was co-led with SIG Asia, a subsidiary of trading and technology firm Susquehanna International Group and also included VMS Legend Investment Fund I, Sequoia Capital and Lightspeed China Partners.
Although Ppdai did not disclose the exact sum raised, it did reveal the round had brought in close to $100m.
Founded in 2007, Ppdai received an undisclosed amount in an April 2014 series B round led by Lightspeed China Partners which also featured Noah Private Wealth Management and Sequoia Capital. Sequoia invested $25m in Ppdai in 2012.
Ppdai has increased its customer base from 2 million to 6 million over the past year, and will use the funding to further grow its user base as well as to develop big data and risk control systems and broaden its product suite.