BEIJING, June 19, 2018 /PRNewswire/ -- Yirendai Ltd. (YRD) ("Yirendai" or the "Company"), a leading fintech company in China, announced today that Goldman Sachs, a leading global investment banking firm, has provided the Company with RMB 324 million of funding for a term of 3 years.
"We are very excited to see the substantial progress we have made in developing institutional relationships," commented Mr. Dennis Cong, Chief Financial Officer of Yirendai. "This funding facility demonstrates Goldman Sachs' recognition of our proven operating capabilities and leading position in the industry. We remain committed to working with more financial institutions to better address the under-served financing needs of the prime population in China."
Yirendai Ltd. (YRD) is a leading fintech company in China connecting investors and individual borrowers. The Company provides an effective solution to address largely underserved investor and individual borrower demand in China through an online platform that automates key aspects of its operations to efficiently match borrowers with investors and execute loan transactions. Yirendai deploys a proprietary risk management system, which enables the Company to effectively assess the creditworthiness of borrowers, appropriately price the risks associated with borrowers, and offer quality loan investment opportunities to investors. Yirendai's online marketplace provides borrowers with quick and convenient access to consumer credit at competitive prices and investors with easy and quick access to an alternative asset class with attractive returns. For more information, please visit ir.yirendai.com.