Alibaba To Back P2P Lending Platform Ppdai

By  |  November 15, 2013
 | 

Chinese social lending platform Ppdai is reportedly set to receive $35 million in funding from Alibaba Finance, the funding arm of China’s eCommerce giant Alibaba Group, VentureBeat reported on November 15.

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    The P2P service was launched in 2007. VentureBeat noted that Sequoia Capital invested $25 million in Series A funding in December 2012.

    VentureBeat was unable to confirm the Alibaba investment, but it cited officials from Alibaba Group subsidiaries as the source of the information.

    To learn more about the possible Ppdai funding, read the full story here.

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