Weidai is a China-based fintech startup that operates a peer-to-peer (P2P) lending platform. The company's core product is its P2P lending marketplace. The article reports that Weidai has completed a new financing round. It raised up to $153 million (RMB1 billion) in a Series C round. The round was led by Vision Knight Capital. The article does not disclose additional operating metrics, prior rounds, or further details on investors or use of proceeds. Weidai, launched in 2011 and based in Hangzhou, operates a peer-to-peer lending platform that issues loans secured by borrowers' cars. Its loans are generally one-month in maturity with interest rates around 11%. As of August 2015 the platform's monthly transaction value reached RMB85 million (US$235 million). The company operates 85 service posts, mostly in Zhejiang, Jiangsu, Anhui and Guangdong provinces. Industry reporting highlights the company's established risk-control system and rich experience in debt collection. The business has received financial support from Shenzhen-listed Hakim Co., Ltd during its fundraising rounds, including a recent Series B.

Total raised

$176M

Funding rounds

2

Latest round

Series C

Latest activity

May 2016