Morningside Venture Capital Invests in Yooli.com (Asia)
Source: Caixin Online | Author(s): Liu Ran
Private equity and venture capital firm Morningside Venture Capital has invested more than US$50 million in China-based peer-to-peer lending website Yooli.com. Yooli, which reportedly has around 760,000 users, intends to use the investment for product development, technology upgrades and improving its credit rating system. The company previously raised US$10 million from venture capital firm SB China Venture Capital in November 2013.