P2P Lending Site 'Gets Investment from Venture Capital Firm'

(Beijing) – Peer-to-peer (P2P) lending website Yooli.com has secured an investment from Morningside Venture Capital, Yooli's CEO and co-founder Ren Yong said on June 18.

Yooli is a website that matches people with spare cash with those who need to borrow. It charges borrowers a commission of 1 to 2 percent of the loan amount. The site has about 760,000 users, Ren said.