Dianrong to offer US exposure

By David Tuckwell on Saturday 20 May 2017

Alternative Lending

'China's Lending Club' wants to buy American

Dianrong is testing to see if it can make tap US lending markets. 

Chinese P2P lender Dianrong is beta testing a new platform that will provide a gateway for Asian investors wanting to tap the US lending market. 

The company has inked in a partnership with Maggie Ng, a former head of Asian Lending at Citibank, to help build the platform’s reach into the US. 

"Consumer lending, especially in the U.S., offers consistent performance with lower risk profile over time,” said Soul Htite, Founder and CEO of Dianrong.Founder and CEO of Dianrong.

“However, the infrastructure to connect Asian investors with this attractive asset class has been lacking to date.

"Maggie approached Dianrong for help to build a fintech solution for Asian investors, to finally access this seemingly hidden asset class and put consumer lending to work for more Asian portfolios.”fintech solution for Asian investors, to finally access this seemingly hidden asset class and put consumer lending to work for more Asian portfolios.”

Dianrong is sometimes referred to as “the Lending Club of China”. Its P2P lending model is very similar Lending Club’s and Mr Htite helped set up both companies.Mr Htite helped set up both companies.

The rise of Dianrong comes despite industry consolidation: the number of P2P lenders in China peaked in late 2015. Despite also the slowdown in composite yields on Chinese P2P loans. 

While China’s P2P industry was rolled by a wave of fraud which led to year-long regulatory crackdown, the young industry has bounced back and continued to grow.year-long regulatory crackdown, the young industry has bounced back and continued to grow.

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