China’s P2P lending market is a crowded space, but one thing that can help you stand out in the crowd? Money. At least, that’s what Chinese P2P lending startup Dianrong will be hoping following the close of a massive US$207 million round of fundraising. The round, which was co-led by Standard Chartered’s private equity arm and China Fintech Fund, is one of the largest in China’s P2P sector.

P2P lending in China has exploded over the past year, thanks to a lack of lending services available from traditional banks for their market: individuals and SMEs. In just the past few months, we’ve seen some big rounds raised in the P2P space: Yooli raised US$46 million, FirstP2P raised US$41 million, and Yinker and Baocaiwang have also raised rounds of above US$20 million. Dianrong’s latest round seems to put it head and shoulders above these competitors.

Dianrong reportedly plans to use the cash to fuel a massive expansion that may see it doubling or even tripling its team size over the next year.

(Source: Reuters)