Tagged: china

Crowdfunding Asia China Summit 2015

CrowdFunding Asia™ is structured and designed by Phoenixict™ Pte Ltd and the Crowd who share the same vision of serving the community and startups for all great reasons. The believe of Crowd Power provides the Crowd Wisdom to drive Crowd Economy through the options of Crowd Funding to realize idea into business and to exercise… Read More

P2P Lender Lufax Valued at $10 Billion as Ping An’s Stake Declines

Greg Gibb Lufax

Peer to peer lender Lufax raised equity late last month. Crowdfund Insider reported the China based direct lender raised approximately $483 million or 3 billion yuan. Now a report in WSJ.com places a valuation of the P2P lender at nearly $10 billion making it one of the most valuable online lenders in the world.  China… Read More

Lending Platform China Rapid Finance Reaches New Milestone With 800,000 Loans To Chinese Borrowers

China-Rapid-Finance

China Rapid Finance, a Chinese marketplace that specializes in lending and credit decisioning, announced that it has reached a new milestone – in the first two months since it launched the service, the company has provided more than 800,000 loans to Chinese borrowers over its marketplace lending mobile platform. In February of this year, China… Read More

Chinese P2P Platform Yirendai Said to Plan $300 Million IPO

Screen Shot 2015-04-16 at 10.47.47 PM

Beijing-based peer-to-peer lender Yirendai.com plans to raise about $300 million in a U.S. initial public offering, notes a recent BloombergBusiness story, citing people with knowledge of the matter. If the IPO takes place, Yirendai could become the first Chinese online-loan platform to list overseas, following the likes of offerings by U.S. companies LendingClub Corp. and On Deck Capital Inc. The people… Read More

Professor Oliver Rui Talks P2P Lending in China (Video)

Oliver Rui

China is the largest peer to peer lending market in the world today and is home to the largest platforms in the world as well.  While exact estimates vary, most followers put the number of China based P2P lending platforms at an incredible number of 1500 or more. Unregulated and thus risky, P2P has been… Read More

Music Education Technology Platform Tonara Raises Additional $5M During Investment Round Led By Baidu & Carmel Ventures

tonara_ipad

Chinese Internet Giant Baidu, and Carmel Ventures, Co-Lead $5M Investment Round in Tonara, the Leading Music Education Technology Platform Today, Tonara, a music education technology company, announced a $5 million investment round led by Baidu, China’s leading search engine, and Carmel Ventures. Baidu’s investment and partnership will accelerate Tonara’s growth, particularly in China, the world’s largest… Read More

P2P Lender CreditEase & Wellington Management Partner to Invest in Pre IPO Companies

CreditEase

CreditEase, a China based peer to peer lender and wealth management company, has partnered with US based Wellington Management to invest in pre-IPO stage companies, according to a report in the China Daily. The agreement is described as one where CreditEase will provide the capital for a fund which will be managed by Wellington. The… Read More

Is China Going Through a Peer to Peer Lending Crisis?

Chinese Peer to Peer Lending

According to Guan Jianzhong of Dagong Global, a company that monitors and rates peer to peer lending platforms, of the 1,587 p2p platforms it observes, 393 have been blacklisted and an additional 668 were given risk warnings – a staggering percentage of active peer lenders in the largest direct lending market in the world.  This has… Read More

Cogobuy Implements Strategic Cooperation with JD.com to Create Intelligent Hardware Ecosystem

JD shirt China

Cogobuy Group, an e-commerce company dedicated to serving China’s electronics manufacturing industry, announced it has implemented a strategic cooperation with JD.com, Inc. to jointly build out an intelligent hardware ecosystem. Last month, JD.com announced its crowdfunding platform’s official launch while pulling together domestic enterprises to jointly build an Internet ecosystem. Cogobuy, as a supply chain partner, entered into a strategic… Read More

Lufax Has Sold Shares Worth Over $400 Million to Foreign Investors

China Yuan Renmibi

Peer to peer lending platform Lufax has sold equity in the company valued at  3 billion yuan or approximately USD 483 million.  This is according to a report in China News that quoted Lufax Chairman Gregory Gibb on the transaction.  The private placement was said to include private equity and “individuals with a background in… Read More

Crowd2Fund Receives £10 Million Valuation as Chinese Investors Join Series A

Crowd2Fund Founder

Crowd2Fund, a UK based investment crowdfunding platform that offers a range of funding options, has announced a Series A funding round of £2 million giving the company a “notional market value” of £10 million.  According to the company interest from Chinese investors boosted the valuation of the young crowdfunding site. Crowd2Fund, regulated by the Financial… Read More

JD.com Launches Equity Crowdfunding Platform with 11 New Campaigns: Promotes Chinese Entrepreneurship

Confucian Temple China

JD.com, Inc. (Nasdaq:JD), China’s leading online direct sales company, today announced its launch of a series of initiatives to help finance, develop and promote the creation of start-ups in China. The new JD Equity Crowdfunding platform, which builds upon JD.com’s success in the area of Internet finance, is expected to be China’s largest equity crowdfunding platform upon its launch today. “I know… Read More

Steering Group on Financial Technologies to Advise Chinese Government: Aims to Make Hong Kong Fintech Hub

China Yuan Renmibi

The Chinese government announced the establishment of the Steering Group on Financial Technologies to advise the Government on how to develop Hong Kong into and promote Hong Kong as a Fintech hub. The initiative to set up the Steering Committee was announced in the Financial Secretary’s 2015-16 Budget. Chaired by the Secretary for Financial Services… Read More

New Android Tablet Remix Scores Over $100,000 in 24 hours on Kickstarter

Remix 5

On Thursday, China-based Jide Tech, hit crowdfunding giant Kickstarter to raise $100,000 for its new Android tablet, Remix. The Remix is considered an Android 4.4.2 based, 11.6” ultra-tablet that provides “the best” mobile productivity and communication experience for all of its users. The company stated: “[The tablet] exists because in early 2013, we had a… Read More

Lufax CEO: Big Risk of Fraud in China P2P Lending

China Peer to Peer Lenders

Speaking on a panel discussion at the Boao Forum in southern China, the CEO of Shanghai Lujiazui International Financial Asset Exchange (commonly referred to as Lufax), Gregory Gibb, addressed the pressing issue of fraud. The peer to peer lending industry in China has experienced supercharged growth over the past few years but has been plagued by fraud and… Read More

China Experiences a Surge in Internet Banking

Chinese Peer to Peer Lending

Data published by the China Banking Association indicates a “surge” in internet banking.  According to a report in ECNS, individuals using online banking services has hit 909 million – an increase of 150 million compared to the year prior. Financial transactions totaled an astounding 60.85 billion during 2014 and increase of 22%, with 67.88% of… Read More

China Banking Regulatory Commission is Circulating Peer to Peer Lending Rules

China the largest Peer to Peer Lending Market P2P

The China Banking Regulatory Commission (CBRC) is preparing to tighten the regulatory environment for the fast growing peer to peer lending industry. According to multiple reports, rules have been drafted and are being distributed for review by various industry experts and platform operators. An internal meeting was held last week at the CBRC where proposed rules… Read More

Alibaba Partners with British Lenders as it Expands Financial Platform Reach

Alibaba Easy to do Business

Alibaba, the Chinese internet conglomerate, has formed another strategic alliance to provide loans to businesses. Earlier this month Alibaba inked an agreement with Lending Club to facilitate loans to US businesses seeking to purchase goods from China manufacturers. Now Alibaba has created a similar arrangement with ezbob and iwoca in the United Kingdom.  This is the… Read More

People’s Bank of China to Lead Regulations on Internet Finance

Peoples Bank of China

Online finance has been booming in China.  Today the country claims to be the largest market in the world for peer to peer lending with an estimate value of $18 billion for 2014. The Chinese People’s Political Consultative Conference (CPPCC) opened their meeting in the Great Hall of the People in Beijing earlier this week… Read More

Basketball Star Yao Ming Crowdfunds Napa Valley Luxury Wine Brand, Yao Family Wines, With China and US Distribution

Yao Ming Wine

If the Chinese characters on your bottle of very fine wine recall bygone basketball games, here’s to Yao Ming. Luxury wine brand Yao Family Wines, founded by Yao Ming, retired basketball star with the Houston Rockets and a global humanitarian, is now crowdfunding on Crowdfunder, with a $3 million goal. Yao Family Wines develops, produces, markets and sells Napa Valley… Read More