Chinese peer-to-peer (P2P) lending firm Weidai.com has received RMB 1 billion series C investment.

Founded in 2011, China’s largest P2P platform Weidai.com now has RMB 1 billion Series C Investment, led by Chinese PE firm Vision Knight Capital, state-owned investment bank China Securities Co. and Shenzhen listed interior décor company, DYRS.

Weidai.com now owns 230 service stores, which operate and originate loans and perform initial credit screenings. Returns from platform investors in the P2P firm range from 6 per cent to 12 per cent and offer terms ranging from as little as one month, up to a period of three years.