Tagged: alibaba

Huge: Mobile Lending Company WeLab Raises $220 Million with Backing from Alibaba

One of the fastest growing Fintech’s in China has raised USD $220 million. WeLab, a Hong Kong-based mobile lending platform founded in 2013, has closed funding round of $220 million including both strategic debt and equity funding with the backing of Alibaba Hong Kong Entrepreneurs Fund,… Read More

Ant Financial Puts IPO on Hold; Plans More Startups & Artificial Intelligence Investments

Chinese fintech and Alibaba-affiliated Ant Financial revealed this week it is putting its Initial Public Offering (IPO) plans on hold and is now focused on investing in more startups and artificial intelligence (AI). The news of Ant Financial’s plans comes less than a year after… Read More

Alipay Collaborates With Poynt to Begin North American Expansion

Digital payment platform Alipay announced on Thursday it has teamed up with smart terminal provider Poynt to enable its Chinese users to pay with its services through all Poynt devices in North America. The duo revealed that through their new agreement, Alipay’s Chinese users visiting North America… Read More

China: WeiyangX Fintech Review

CBRC Issues Official Information Disclosures Guidelines for P2P Lending Platforms On August 25th, the China Banking Regulatory Commission (CBRC) officially unveiled the final version of Guidelines on Online Lending Information Disclosure Requirement. The document was released based on a pilot tighter information disclosure initiative announced… Read More

China: WeiyangX Fintech Review

Alibaba’s Yuebao Reduces Credit Limit for Personal Balance to RMB 100,000 Alibaba’s Yuebao is now the nation’s largest money market fund with assets hitting RMB 1.43 trillion (US$210.18 billion) as of the end of July, up sharply from the end of last year. On August… Read More

China: WeiyangX Fintech Review

National Financial Work Conference Points Out Clear Way for Building Financial ‘Super Regulator’ The two-day national financial work conference held from July 14-15 in Beijing came up with major principles for the country’s financial work, and make statements about direct financing and the construction of… Read More

Hong Kong Fintech CompareAsia Group Adds to List of Impressive Investors

The Hong Kong Fintech startup CompareAsia Group has recently completed a $50 million round of funding, led by World Bank’s lending group the International Finance Corp (IFC). CompareAsia Group has already stimulated some excitement in the past, attracting the Goldman Sachs Investment Partners and Ace… Read More

China: WeiyangX Fintech Review

Ant Financial Brings Artificial Intelligence to Auto Insurance On June 27th, The Alibaba Group financial affiliate rolled out an artificial intelligence-driven, image-recognition system to aid vehicle insurance claims adjusters in operating faster and more efficiently. In its demonstration in Beijing, Ant pitted man against machine,… Read More

Alibaba Must Acquire Starbucks, WeWork, Airbnb, Uber, Tesla & PayPal

During July 2016, I was part of a delegation of US Fintech executives visiting our counterparts in Hong Kong, Shenzhen, and Shanghai, China. We toured and visited some of the most exciting Fintech platforms in China such as LuFax, CreditEase, Tencent (the creator of WeChat),… Read More

China: WeiyangX Fintech Review

China Issues a Five-Year plan on Fintech Facing the challenges from the online finance industry, the People’s Bank of China (PBOC) and four other departments including the China Securities Regulatory Commission (CSRC), China Banking Regulatory Commission (CBRC), China Insurance Regulatory Commission (CIRC) and Standardization Administration… Read More

3 Takeaways from Mary Meeker’s 2017 Internet Trends Report

This article highlights three takeaways for Fintech firms from Mary Meeker’s 355-page-long report: 1) The Internet’s center of gravity shifts to Asia; 2) The biggest get bigger; 3) Fintechs must use gamification to improve customer engagement. Since 2001, Mary Meeker, a Partner at venture capital… Read More

Here is the Presentation that Explains How Ant Financial, Part of Alibaba, Will Dominate Finance

Alibaba has been a trailblazer in many ways. One area that Alibaba wants to dominate is finance for both consumers and SMEs and they are well on their way.  Ant Financial, their financial services subsidiary, is executing on this vision and last week Eric Jing,… Read More

China: WeiyangX Fintech Review

Chinese Tech Giant Baidu to Quit Crowdfunding Market Search engine giant Baidu Inc. is to quit crowdfunding market and pay more attention on artificial intelligence”]. Users will not see the “Baidu Crowdfunding” channel when they log in their Baidu Finance account, but will still be… Read More

China: WeiyangX Fintech Review

Financial Technology Becomes a New Spotlight of the Belt and Road Initiative Belt and Road Forum for International Cooperation, also known as the Belt and Road Initiative, was held in Beijing on May 14-15. President Xi Jinping highlighted the role that financial technology has played… Read More

Alibaba Invests In Its First Fintech Company In Hong Kong

As reported by Forbes today, Alibaba has invested in online invoice exchange marketplace Qupital, marking the Chinese e-commerce giant’s first foray into fintech investment in Hong Kong. Qupital raised a total of $2 million in its seed round. Accounts Receivable Marketplace Qupital bills itself as Hong Kong’s… Read More

China: WeiyangX Fintech Review

There May Come the JD Bank JD.com Inc., China’s second-biggest e-commerce player, announced its financial arm was about to launch its own direct bank. After acquiring the banking license, this internet giant announced to cooperate with a domestic traditional bank to open a direct bank,… Read More

China: WeiyangX Fintech Review

CBRC Releases Documentation to Regulate Small Cash Loans Market This week, China Banking Regulatory Commission released a documentation “Guidelines on risk prevention and control in banking industry” to regulate the small cash loans market by perfecting the in-out mechanisms, paying more attention to the supervision… Read More

NextTech Aims To Be Vietnam’s Alibaba

E-commerce company NextTech, which is based out of Hanoi, Vietnam, is aiming to become its country’s version of Alibaba. Alibaba, of course, is China’s e-commerce and technology (including Fintech) juggernaut that helped the country surpass the US in mobile payments by more than 50 times. Can… Read More

Huge: Alipay & WeChat Payments Have Risen from $81 Billion in 2012 to $2.9 Trillion in 2016

The UN sponsored Better than Cash Alliance is out with an interesting report on Fintech and payments in China. The Alliance partners with governments, companies, and international organizations that are the key drivers behind the transition to make digital payments widely available around the globe…. Read More

P2P Lender China Rapid Finance Sets Terms for US IPO

  China Rapid Finance, a peer-to-peer (P2P) lender based in Shanghai, China, announced that it has set the terms for its upcoming US IPO. The company plans to raise $105 million through the offering of 10 million shares priced between $9.50 to $11.50 a share. At… Read More