Touzhijia.com, a China-based peer-to-peer lending platform affiliated with consultancy Yingcan Group, has secured $12m in series A funding, China Money Network has reported, citing a company announcement.
Private equity and venture capital firm CDF Capital led the round, which reportedly follows $4.5m in pre-series A funding from undisclosed backers in September 2015.
Touzhijia, founded in 2014, operates an online lending platform that aims to make the peer-to-peer financing process safer and more efficient for individual investors. It has about 2.3 million registered users and has closed more than RMB7.5bn ($1.1bn) in transactions.
The capital will support the company’s expansion of its wealth management services as well as the creation and introduction of insurance, trust and private equity products.