Century 21 China Real Estate Forms Strategic Partnership with Leading Financial Services Company Dubbed "Lending Club of China"
BEIJING, July 21, 2014 /PRNewswire/ -- IFM Investments Limited (NYSE: CTC) ("Century 21 China Real Estate"), a leading comprehensive real estate services provider and the exclusive franchisor for the CENTURY 21® brand in China, today announced that it has signed a memorandum of understanding with Dianrong.com, a Shanghai-based online credit marketplace often referred to as the "Lending Club of China," under which the two parties will provide online financial services in China.
"This agreement is an important step in Century 21 China Real Estate's ongoing efforts to build out our mortgage credit loans business," said Donald Zhang, chairman and chief executive officer of Century 21 China Real Estate. "As one of the most influential and trusted financial services platforms in China, Dianrong.com will improve our access to the growing pool of online cash investors. Our ability to connect these creditors with Century 21 China Real Estate's network of asset-backed mortgage borrowers will add value for both partners and our clients."
"Century 21 China Real Estate's leadership in China's primary and secondary real estate markets puts them in an ideal position to connect us with property owners who are looking for more innovative mortgage solutions," said Soul Htite, chief executive officer of Dianrong.com, co-founder and former Head of Technology at Lending Club. "We look forward to deepening our cooperation."
About Century 21 China Real Estate
IFM Investments Limited ("Century 21 China Real Estate" or "CTC") is a leading comprehensive real estate services provider and the exclusive franchisor for the CENTURY 21® brand in China. CTC primarily focuses on China's fast-growing and highly fragmented secondary real estate market, providing company-owned brokerage services, franchise services, mortgage management services, primary services, commercial services and fund management services. CTC has experienced substantial growth since it commenced operations in 2000, and received numerous awards and recognition as franchisor and real estate services provider for its service quality and business achievements. Century 21 China Real Estate became a public company in January 2010 and its ADSs, each of which represents 45 ordinary shares of CTC, currently trade on the New York Stock Exchange under the symbol "CTC". For more information about CTC, please visit http://www.century21cn.com/english.
Named the "Lending Club of China," Dianrong.com offers an online marketplace where members borrow and lend money to each other. Lenders earn returns well above those from bank deposits and wealth management products while borrowers pay rates significantly lower than they do to traditional credit institutions.
Headquartered in Shanghai, Dianrong.com was founded in 2012 by Soul Htite, co-founder and former Head of Technology at Lending Club, and Kevin Guo, a senior financial lawyer in China. In this era of big data, Dianrong.com's industry leading technology platform similar to that of Lending Club, yet tailored to the Chinese market, allows Dianrong.com to effectively seize business opportunities.
Source: Century 21 China Real Estate (IFM Investments Limited)