Dianrong.com and Kuaidi One Launch Interest-bearing Service for Uninvested Funds, the First of its Kind in P2P Lending Industry
SHANGHAI, May 12, 2015 /PRNewswire/ -- After Alibaba's Yu'ebao opened the door for managing uninvested funds online, the P2P lending industry also started to explore the opportunities in the territory. Dianrong.com and Kuaidi One, the car service platform operated by DidiDache-KuaidiDache, launched interest-bearing service for uninvested funds, and this is the first time in the world that a P2P lending company has offered such a service.
Different from such money market funds as Yu'ebao that are linked to Alipay, the P2P lending product that generates interests for the Kuaidi One users' account balances is provided by Dianrong.com. The new Kuaidi One account feature will be activated on Friday, and qualified account holders can have a one-month free trial of internet lending products with an annual yield as high as 14%.
The jointly launched service is a win-win for both companies, as Kuaidi One provides more value-added services to its users while Dianrong.com gains additional customers and funds.
"This is just the beginning of our partnership, and we are discussing ideas to expand our collaboration that will provide more convenient, more valuable services based on users' feedback and needs. Perhaps in the near future, every penny in our users' accounts will automatically earn interest," a top executive at Kuaidi One said.
Kuaidi One is the car service platform developed by DidiDache-KuaidiDache, and the newly merged DidiDache-KuaidiDache, recently valued at $6 billion, has such notable shareholders as Tencent and Alibaba that are China's internet giants.
Dianrong.com was established by Soul Htite, the co-founder of the largest U.S.-based P2P lending platform the Lending Club, and the Chinese lawyer Kevin Guo. It has become the leader of the Chinese P2P lending industry since its creation 2 years ago, and attracted strategic investments from Sun Hung Kai and Tiger Global Management, among others.
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SOURCE Dianrong.com
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