Tagged: china

Baidu Adds More Stringent Requirements for Chinese Crowdfunding Platforms

Chinese Crowdfunding

Earlier this month Chinese search engine Baidu announced it would now require crowdfunding platforms to adhere to a strict set of qualifications designed to limit promotion from less reputable platforms. Baidu stated it would no longer open new accounts for crowdfunding platforms to access their… Read More

CoAssets’ First China Deal Successfully Funds

China Flag

Real estate crowdfunding platform CoAssets (NSX:CAX) announced on Tuesday its first deal in China has successfully funded through its local platform, CoAssets China, which was opened last month. According to CoAssets, the initiative was for the renovation of a private social venue in the Gulou District in Fuzhou,… Read More

China Fintech Round-Up

China Coin Money

Auto financing P2P platform Weidai.com received RMB 1 billion Series C Investment Founded in 2011, Weidai.com is China’s first and largest specialty P2P platform that focuses on providing secured automobile loans. It also provides used car financing services through partnerships with used car marketplaces. The company… Read More

Lendit China Rebrands as Lang Di Fintech. Adds PitchIt

Jason Jones and Ning Tang

Lendit is expanding its portfolio of activities this year by launching Lang Di Fintech, their inaugural Chinese conference.  Lang Di means “enlighten” or “inspiration” thus representing the future of finance in the largest Fintech market in the world. Lang Di Fintech will take place in… Read More

Paul Niederer Appointed Wealth Migrate Australia CEO

Paul-Niederer asks questions

Paul Niederer, former CEO of ASSOB, has been appointed CEO of Wealth Migrate’ Australian agency. Wealth Migrate is a global real estate crowdfunding platform. Niederer is a well-known proponent of internet finance having traveled the world on behalf of ASSOB – an early pioneer of… Read More

KoreConX Announces New Program to Help Equity/Debt Crowdfunding Portals Access Chinese Investors & Companies

China Flag

On Thursday, KoreConX  announced its new program that helps equity and debt crowdfunding platforms go truly global by accessing China’s accredited investor base and companies in need of funding. The program, Going Global Solutions, provides portals with a feasibility study of the marketplace, recommendations regarding the legal and regulatory framework,… Read More

Another One Bites the Dust: Chinese Police Shut Down P2P Lending Platform Esudai

fraud

Add Esudai to a growing list of fraudulent Chinese P2P lending platforms that are being shut down by the Chinese government.  Today Reuters reported that police in the Huizhou, Guangdong province, had detained 13 executives including legal representative and chairman Jian Huixing from the Guangdong Huirong… Read More

Lending Club Finally Gets a Break as Tianqiao Chen Takes Stake in Marketplace Lending Firm

Tenquiao Chen

Lending Club (NYSE:LC) has been pounded by bad news this month. Following the announcement that founder and CEO Renaud Laplanche had resigned for alleged improprieties at the online lender, the bad news avalanche began.  One day it was a subpoena, the next it was a… Read More

DreameGGS Wants to Bring China Money to American Filmmakers

DreameGGs Films Funding May 2016

  There is a tidal wave of Asian money that wants to head to North America and diversify into different asset classes.  Yet Chinese officials have made it challenging for many individuals to move money out. DreameGGs is a relatively new platform that is seeking… Read More

Wealthroll Owner Xu Qin Confesses Ponzi Scheme: Online Lender Defrauded $6.1B. World Capital Market Caught in Pyramid Scheme

fraud

As Chinese authorities continue their hunt for unregulated online lending and investment firms, more fraudulent fintech platforms are bound to be nabbed for unseemly and illegal behavior.  Today Bloomberg News reported the latest Ponzi scheme that separated 39.9 billion yuan ($6.1 billion) from 25,000 investors. Crowdfund… Read More

China Update: Guidelines, Not Rules Quite Yet for Alternative Finance

China Flag

  China is the largest market for alternative finance in the world. According to the Cambridge Centre for Alternative Finance (CCAF), China delivered over $100 billion in alternative finance, including peer to peer lending and crowdfunding, in 2015.  This was more than a 3X jump… Read More

After Bold Transition, Fincera Reports Full Year Results

CeraPay Management

Fincera (OTCQB: AUTCF), formerly a commercial vehicle leasing company that has now migrated into internet finance for SMEs in China, reported full year results for 2015.  According to the company release, the internet finance based portion of the company (launched in 2014) continues to grow rapidly…. Read More

China: A Fast Growing but Chaotic Internet Finance Industry

Chinese Peer to Peer Lending

China’s internet finance industry continues to grow while encountering ongoing challenges as fraud remains prevalent in the loosely regulated sector of the finance industry. Dominated by peer to peer lending (the largest in the world), as of March over 3900 platforms were counted by WDZJ (other… Read More

Yirendai Announces Issuance Completion of RMB 250M Asset-Backed Securities & Chief Technology Officer Resignation

Ning Tang LenditUSA 2016

Yirendai Ltd. (NYSE: YRD), an online consumer finance marketplace in China, announced on Monday the completion of issuance of RMB 250 million asset-backed securities (“ABS”). Last month,  Yirendai announced this week it will be considered as the first online consumer finance marketplace in China facilitating consumer loan products with the… Read More

Wealth Migrate Set to Open New Shanghai Office

Skyscrapers-Shanghai2

On Friday, real estate crowdfunding platform, Wealth Migrate, announced that it was officially opening its new Shanghai office, which will be located in the Pudong Pilot Free Trade Zone district.  Wealth Migrate China CEO, Aling Gong, declared that the Shanghai opening is considered a milestone for the crowdfunding movement… Read More

Brief: China Rapid Finance Announces Broadline Capital’s Investment Honored As “Technology Deal of the Year” at International M&A Awards

China Rapid Finance

On Wednesday, China Rapid Finance Limited announced that an investment by global private equity firm Broadline Capital in the company was honored as “Technology Deal of the Year” at the 2016 International Financial Forum’s 8th Annual International M&A Awards. This event recognizes excellence in deal-making and celebrate the… Read More