(Yicai Global) March 28 -- A peer-to-peer lending platform run by Shanghai's Fish Yao Financial Information Service will stop funding new projects because authorities are going through its business. 

The local police in eastern Jiangsu province have taken Koudailc.Com's computers and communication equipment due to an ongoing investigation that the firm is cooperating with, the platform posted on its website. 

Users can withdraw their principals after the specific financing project is due, but the accrued interest cannot be settled before the company's staff resumes work after the investigation is over, the statement added. 

Launched in 2014, Koudailc.Com has over 11 million users and it has brought about more than CNY33.5 billion (USD5 billion) in turnover since its establishment, according to the website.

Editor: Emmi Laine