pulls in $12m for peer-to-peer lending, a Chinese peer-to-peer lending platform, has raised $12m in a Series A round from US VC-firm CDF Capital.

The company provides professional services to peer-to-peer investors with the intention of making individual investment and financing safer and more efficient.

Touzhijia has now raised $16.5m in total funding with the company having previously taken on?$4.5m in a seed round.

The company says it will use the capital to expand its wealth managements services with the intention to develop new financial products in insurance, trust and private equity.

To date Touzhijia has facilitated ?7.5bn ($1.1bn) in transactions with 2.3 million users registered on the platform.

The funding comes at a time when Chinese peer-to-peer lenders continue to receive funding while facing tighter scrutiny from authorities after Ezubao was outed as a Ponzi scheme in January, causing banks to reduce their support for the sector.

Copyright ? 2016 FINTECH GLOBAL

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