Tagged: china

Welcome to the Blacklist: Chinese Credit Agency Releases Its First Internet Finance Blacklist and Early Warning List

China Yuan Renmibi

Chinese credit rating agency Dagong recently released its first internet finance blacklist and early warning list, according to a company statement. Dagong stated, “the number of peer to peer platforms that appeared to have various risks such as blocked withdrawals, platform closure and flight is 275, which is 3.6 times that of last year. Last… Read More

Playing Copycat Doesn’t Pay Off Long-term: Lending Club Co-founder Soul Htite on China’s Online Lending Industry

DIANRONG.COM

Chinese online ventures rushing into the online lending industry may need to prepare themselves for a Groupon-style fall, suggested Soul Htite, co-founder of the world’s largest online loan broker, Lending Club, in a recent Bloomberg interview. Htite is also the CEO of peer-to-peer lender Dianrong.com, which says it’s it has brokered more than 1 billion… Read More

Crowdfunding Mailbox: SONICable Charges Your Phone Twice as Fast, Sugr Cube Wireless Speaker & iCamPro Tracks Intruders

Crowdfunding Mailbox Featured 1.17.15

Three hardware campaigns for this week’s Crowdfunding Mailbox with one of them scheduled to end tomorrow (so you better hurry). Amaryllo International, based in the Netherlands, has a crowdfunding hit on their hands.  Their iCAMPro “intelligent security robot” was set up to raise $1000 on Indiegogo and it stands at over $227,000 today. So this is… Read More

Australian Crowdfunding Platform Pozible Wraps Up a Successful 2014

Fireworks Cannes France

It may not be in your mailbox, but Australia-based crowdfunding platform Pozible just posted a thank-you letter to the community, wrapping up a busy 2014. The company hosted more than 3,000 projects, raising AU$14,151,243—a 49 percent increase year on year. Of those 3,000-plus projects, Pozible’s Food and Drink and Social Enterprise categories grew more than… Read More

Lenovo is Expanding into Peer to Peer Lending

EloanCN

Legend Holdings, the holding company of Lenovo computer, is expanding into peer to peer lending and other forms of finance.  The investments are part of an overriding strategy to both acquire and grow core assets while simultaneously boosting growth with non organic expansion.  Legend hopes to become a publicly traded holding company within the next two… Read More

WeLab Raises $20 Million for WeLend P2P Site

WeLend

Hong Kong’s first peer to peer lending platform WeLend has now closed a Series A funding round topping off at $20 million. The funding round was originally started in June when WeLab raised $14 million.  The additional $6 million was just added as new investors joined in. WeLend pushed into mainland China in 2014 and… Read More

Dianrong.com Collects $12 Million to Grow P2P Lending in China

Great Wall of China (Wikipedia)

Shanghai-based online financial services firm Dianrong.com stated it has entered into an investment agreement with Northern Light Venture Capital (NLVC), under which the company has received “tens of millions of dollars in investment from NLVC”. Dianrong.com states it has become a fast-growing peer-to-peer (P2P) lending website since going live in March 2013. As of the end… Read More

Auto China International Reports Q3 Results

AutoChina Truck

AutoChina International released its Q3 results along with 9 month results for calendar 2014.  Total revenues for 9 months ended in September were stated to be $591.3 million, a 40% increase over same period last year of $419.8 million.  AutoChina International Limited is a provider of financing solutions for China’s transportation industry including commercial truck… Read More

Hong Kong-Based Bitcoin Platform KBBEX Partners with Taiwanese Bitcoin Platform BitoEX

bitoex

KBBEX, a Hong Kong-based Bitcoin Exchange Platform, has formed a strategic partnership with the Taiwanese Bitcoin Platform BitoEX, to supply bitcoins in more than 5000 convenience stores located in Taiwan. Consumers may now buy bitcoins at all FamilyMart convenience stores in Taiwan. The alliance enables the development of Taiwan bitcoin industry bitcoinsto become accessible in the daily-life of… Read More

SparkLabs Fourth Batch Graduates Nine Companies

SparkLabs

SparkLabs is graduating its fourth batch of companies with a frenzied interest in its demo day. Over 900 people have registered to attend their demo day event. Senior associate at SparkLabs, Sophia Choi stated,”Even with over 30,000 startups in Korea and SparkLabs’ growing reputation in Asia, our team is still surprised by the overwhelming interest in our… Read More

JD.com & Grameen Trust Partner Up on Micro-loans for Entrepreneurs

Ricahrd Liu and Mahammad Yunus

JD.com is moving quickly to leverage their new crowdfunding platform initially titled  “Coufenzi” by signing an agreement to partner with Grameen China, a non-profit and non-governmental group dedicated to eliminating poverty.  JD Crowdfunding will be used to raise money to establish “ground operations” and then going forward the crowdfunding site will provide micro-loans for entrepreneurs… Read More

China: The Different Categories of Peer to Peer Lending Platforms

China Peer to Peer Lenders

The biggest Peer to Peer (P2P) lending market, China, has been experiencing explosive growth. After two articles introducing the historical growth and outlook for this market, we are going to take a micro look on the huge variety of (P2P) lending platforms emerging in China. To give a full introduction of different platforms, we categorize… Read More

China Based Formax Announces Alternative Trading Platform

Formax

In a public release Formax has announced a new “trading community” that seeks to become a “one stop shop” individual trading platform.  Formax states it has collaborated with 6 securities firms in China that aggregates various asset classes including peer to peer lending.  China is currently the largest P2P lending market in the world. “JRQ… Read More

China Ecommerce Site JD.com Announces Q3 Results

Jingdong Fenziqian

JD.com or JingDong has announced third quarter financial results today delivering a 111% increase in year over year results in Gross Merchandise Volume (GMV) totaling $11 billion (RMB 29 billion).  Net revenues came  in at $4.7 billion an increase of 61% versus Q3 of 2013.  Net loss for the quarter stood at $26.8 million (RMB… Read More

Xiaomi Backed Jimubox to Triple Peer to Peer Lending to $1.6 Billion in 2015

China Lion

In a recent report China peer to peer (P2P) lending platform Jimubox disclosed it expects to triple its lending business to $1.6 billion in 2015.  The company lent a total of 100 million Yuan ($16.3 million) in 2013 after launching in August. Former Wall Street banker and CEO of  Jimubox, Dong Jun explained late last… Read More

Rapide 3D Signs Up For Indiegogo’s Forever Funding Program After Raising $203,000 For its 3D Printer

Rapid Lite 5

Rapide 3D, who recently launched a crowdfunding campaign on  Indiegogo, has exceeded its funding goal by 1500% raising just over $203,000.  The company is offering savings of up to 60% on retail pricing to campaign contributors.  Available in 3 sizes, 200, 350 and 500mm printer is setting new standards in design and affordability. As a result… Read More

Coolest Cooler Partners with Dragon Innovation on Production

Coolest Cooler Features

Coolest Cooler, the largest crowdfunding campaign ever on the Kickstarter platform, is working with Dragon Innovation to aid in the production process of manufacturing, shipping and delivering over 60,000 tricked out coolers by early 2015.  In a note to backers, project creator Ryan Grepper delivered his first mass communication in almost a month.  Gripper acknowledged… Read More

AutoChina Announces Launch of New Peer to Peer Lending Platform: K-Lend

AutoChina Truck

AutoChina International, a commercial financing company for China’s transportation industry, has announced the launch of a new peer to peer (P2P) lending platform called K-Lend.  The news was revealed as part of a report regarding 3rd quarter results where AutoChina experienced a quarter over quarter growth of 7.6% in new leases.  AutoChina is a publicly… Read More

Pozible Partners with Shanghai-Nanxiang Government, IDG Capital on Crowdfunding Match Program

Team Pozible with Flags

Australia based Crowdfunding Platform Pozible Partners with China Government Office  to Connect Entrepreneurs with Capital, Manufacturing Support, Chinese Entity Setup and More. Pozible, an international crowdfunding platform based in Australia, has partnered with IDG Capital Partners and the Shanghai-Nanxiang government to award matching funds and other support to the entrepreneurs behind the seven strongest Internet of… Read More

The Outlook for Peer to Peer Lending in China

Peer to Peer Lending in China

With the explosive growth over the past seven years, China has become the biggest peer to peer (P2P) lending market in the world. After introducing the four stage evolution in the previous article “The Evolution of Peer to Peer Lending in China”, we will now share the trends we discovered in the development of P2P… Read More