Legend, SIG Asia, VMS, Sequoia and Lightspeed Participate in a Series C Funding Round (Asia)

Source: Ppdai.com, China Money Network

Legend Capital, the venture capital arm of China-based investment group Legend Holdings, and SIG Asia Investments, the venture capital and private equity arm of the Susquehanna International Group, have led a Series C investment round in Ppdai.com, a China-based peer-to-peer lending company. Venture capital firms Sequoia Capital and Lightspeed China Partners and private equity firm VMS Investment Group also participated in the round. Ppdai.com will use the new investment to develop big data and risk control systems, as well as expand its user base and product offerings. Financial details of the transaction were not disclosed.