Australian P2P lending company, SocietyOne, closed a Series B funding round this week. The amount is officially undisclosed, but according to the Australian Financial Review, the round totals $20 million ($25 million AUD). This new installment comes just 10 months after it closed an $8.5 million round.

Contributors to the new round include Consolidated Press Holdings (CPH), News Corp Australia and Australian Capital Equity. Reinventure, the Westpac-funded venture capital manager that took a $5 million equity stake in SocietyOne in February, also helped furnish the round. Reinventure contributed another $5 million to this week’s Series B round.

The funding comes amid the buzz surrounding Lending Club’s IPO. The California-based company is expected to start trading on the NYSE next week at $10 to $12 per share valuing it at more than $4 billion (see our previous coverage here).

Lending Club’s success bodes well for SocietyOne. James Packer, a representative from SocietyOne’s new investors states, “We have seen first-hand the power of technology in reshaping the media industry and I am excited about the potential of technology, led by the team at SocietyOne, to help reshape the financial services industry in Australia.”

SocietyOne’s ClearMatch technology uses risk-based pricing to offer borrowers a rate that is up to 5% lower than bank loans. It debuted ClearMatch at FinovateAsia 2012 where it won Best of Show.