Jack Gu, Co-founder of Ppdai, a social loan service, just informed us that the company has finished a funding from Essentia Private Equity recently. The number is not disclosed. Here’s the excerpts:
We just finished a funding from Essentia Equity recently. As the first Chinese P2P lending website, since we going public in July 2007, PPDai.com has built up a set of system under current china’s lack of credit history situation, by leverage the social networking system. PPDai has helped facilitated a number of loans, which help both borrower & lender reach their goal.
With the funding, PPDai.com will focus on improving the platform, build the community, and strengthen the leading position in China.