Sequoia backs Chinese online lender Ppdai
Sequoia Capital has invested in a Series A financing round of Ppdai, a Chinese peer-to-peer online lending firm. The capital is expected to expand the company’s capacity on technology infrastructure and marketing campaigns.
Jun Zhang, CEO of the online lender, told Shanghai Securities News that the investment amount was less than the $25 million mentioned by earlier media reports. The transaction was completed in October....
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