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Dianrong

FintechNews Roundup
·Mar. 18, 2019

Dianrong Blames Their Current Problems on the Government

Reuters is reporting today that according to an internal memo Dianrong is blaming its current problems on the Chinese government;...
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FintechNews Roundup
·Dec. 4, 2017

Chinese Lender Dianrong Looks to IPO in 2018

Dianrong is a Chinese online lender run by one of the co-founders of Lending Club, Soul Htite; the company is planning an IPO in Hong Kong and could raise $500 million next year. Source

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Asia/PacNews RoundupOnline Lending
·Aug. 2, 2017

Dianrong Announces Series D Round Funding of $220mn

Dianrong has obtained $220 million from a Series D funding round; this latest funding was led by GIC Private Limited (Singapore's sovereign wealth fund), CMIG Leasing, and Simone Investment Managers, among others. Source

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Asia/PacFintechNews Roundup
·Apr. 24, 2017

Dianrong and Quark Finance Planning for Merger

Chinese online lender Dianrong has reported plans for a merger with Quark Finance; the merger will create a broadened set of credit offerings; Dianrong is known as the "Lending Club of China" and Quark Finance offers a range of financial services for consumers and small business owners. Source

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Asia/PacNews RoundupOnline Lending
·Apr. 14, 2017

Dianrong Reporting Success in China’s P2P Lending Market

P2P loan originations for Chinese online lender Dianrong more than doubled from 2015 to 2016; the platform reported 2016 originations of 16.2 billion yuan ($2.3 billion) and the firm plans to continue growing its market share as regulations help the success of established P2P lending firms in China; Dianrong's co-founder and co-CEO, Kevin Guo, talked with Reuters about the firm's growth and China's evolving market; says smaller firms will have difficulty staying in business and that Dianrong plans to grow significantly in the near-term with a new funding round and the goal to grow loan originations by 50% annually over the next three to five years. Source

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FintechNews Roundup
·Mar. 1, 2019

Chinese Online Lender Dianrong Cutting 2,000 Jobs

The recent challenges with the online lending industry in China have been well documented; the latest company to struggle is...
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Asia/PacFintechNews Roundup
·Aug. 30, 2017

Dianrong, FinEX Asia Launch Asia’s First Fintech Asset Management Platform

Dianrong and FinEX Asia have launched Asia's first fintech asset management platform; established in 2017, FinEX Asia connects Asian investors with US consumer lending assets, such as credit card loans, giving Asian investors access to a diverse portfolio of US consumer credit investments; FinEX Asia's fintech solutions offer risk modeling capabilities, blockchain data security, performance monitoring and secondary marketplace liquidity. Source

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Asia/PacFintechNews Roundup
·Apr. 25, 2017

Dianrong Looking to Fully Implement Blockchain

Chinese P2P lender Dianrong is looking to implement blockchain across their entire company to enhance transparency and security for their customers; this is in addition to a recently announced partnership with Taiwan-based Foxconn to launch a blockchain startup called Chained Finance; according to CoinDesk Dianrong's blockchain plans are detailed on their website and they explain using an ethereum-based solution designed to facilitate tamper-proof loan contracts, donations to charity and credit management; Dianrong is also rumored to go public sometime in the near future, though IPO talk has been discussed for a few years. Source

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Asia/PacNews RoundupOnline Lending
·Apr. 18, 2017

Dianrong Announces New CFO and Other Leadership Changes

Dianrong announced the hiring of former Merrill Lynch and Morgan Stanley banker Yawen Cui as the new CFO; now former CFO Xuxia Kuang has been named chief operating officer; Dianrong CEO Soul Htite praised Mr. Cui: "His extensive experience managing initial public offerings, mergers and acquisitions, and financial reporting will also help Dianrong explore opportunities within the capital markets. We are thrilled to welcome Yawen to our executive leadership team."; Long Hsiang Loh, the previous COO, will remain on the executive leadership team and a new role will be announced soon. Source

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Asia/PacFintechNews RoundupOnline Lending
·Mar. 21, 2017

Dianrong and Quark Finance Launch Dianrong-Quark Credit Factory

The new partnership aims to increase access to financial services for individuals and small businesses; according to a Chinese press release translated by TechNode, the "credit factory" (in Chinese) model is a business model mainly used for credit certification of small and micro-sized enterprises as well as individuals; loans lent to such groups are small, but are lent at high frequency; the adoption of the "credit factory" mode, thanks to its high efficiency and economies of scale in handling petty loans, can help big financial firms gain some ground lost to the country's mushrooming small loan companies in the microfinance market; an upgrade to the traditional "credit factory", Dianrong-Quark Credit Factory utilizes such fintech means as big data, anti-fraud management systems and decision engine; it can help lenders reduce manual operations, save costs and cut operational risks through its powerful quantitative system when they handle credit certification for individuals or small and micro-sized businesses.  Source

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