Tagged: china

February 21, 2016 @ 3:07 pm By JD Alois  |  

The government crackdown on internet finance, probably best exemplified by the Ezubao collapse and incarceration of the P2P lenders executives, has slowed the growth of the online lending industry.  According to a report in China News, as of January, there were 2771 platforms in operations in… Read More

February 14, 2016 @ 1:01 pm By JD Alois  |  

The Ministry of Public Security (MPS) has launched a website where investors may submit platforms where they have been swindled out of their money. The new site is said to be designed to aid authorities as they investigate dodgy platforms.  The announcement, published in China News,… Read More

February 6, 2016 @ 7:21 pm By JD Alois  |  

Hanwha, one of the largest conglomerate companies in South Korea, has launched a partnership with Dianrong a leading peer to peer lender in China. The as of yet named entity will open an office in Singapore later this month. Hanwha is a Chaebol that formed an technology… Read More

February 5, 2016 @ 8:11 am By JD Alois  |  

Chinese crowdfunding platform KaiStart announced this week they had closed on a Series “A+” funding  round led by Matrix Partners and Vision Capital. At the end of 2015, KaiStart had revealed it had raised $5.2 million from a broad group of investors including; Incapital, Meridian… Read More

February 1, 2016 @ 11:21 am By JD Alois  |  

As reported in December, the Chinese peer to peer lender Ezubao (Ezubo), launched by Yucheng in 2014,  was shuttered by authorities as employees were questioned and managers were arrested by police.  Now Xinhua and other news outlets are providing details that are shaking up the… Read More

January 31, 2016 @ 9:47 pm By JD Alois  |  

Banking regulators are said to be establishing a “monitoring and warning system” against financial risk and fraud. This is a according to a report in China News that reported a statement that was released at a conference on political and legal work earlier this month…. Read More

January 30, 2016 @ 7:06 pm By Weiyang Research  |  

By the end of 2015, Kickstarter had launched 274,900 projects, of which 98,500 had successfully reached their fundraising goal. The total contributions added up to $2.147 billion US dollars. 10,101,800 people have been contributors on the Kickstarter platform, of which 3,135,900 were repeat backers. Kickstarter projects… Read More

January 21, 2016 @ 5:43 am By Erin Hobey  |  

Moody’s Investors Service avers that the development of domestic securitization markets will help India and China achieve their common goal of building inclusive financial systems that will ultimately bring affordable credit to the underprivileged segments of their societies and which are usually excluded from the conventional banking… Read More

January 21, 2016 @ 4:20 am By Erin Hobey  |  

Fresh from its October 2015 investment in US marketplace lender Kabbage, Dutch bank ING has taken a stake in WeLab, a non-bank provider of consumer loans in China and Hong Kong. ING participated in a Series B $160 million (RMB1 billion) fundraising in the three-year old… Read More

January 19, 2016 @ 10:22 pm By JD Alois  |  

As what will come as little surprise to many observers, a recent report out of China indicates that online fraud is on the rise, specifically within peer to peer lending. There have been repetitive, ongoing reports highlighting the risk of internet finance in China for… Read More

January 19, 2016 @ 6:16 am By Erin Hobey  |  

Commonwealth Bank of Australia today launched an Innovation Lab in Hong Kong and announced plans to launch an Innovation Lab in London later this year. This innovation network is a natural extension of the Bank’s successful Innovation Lab in Sydney and creates a global approach to… Read More

January 19, 2016 @ 1:27 am By Midori Yoshimura  |  

Backed by Ping An Insurance Group Co of China Ltd., Lufax, a Chinese peer-to-peer lender, has raised $1.2 billion from a group of investors, making it one of the world’s most valuable financial technology startups.  The capital raising values Lufax at $18.5 billion. The Shanghai-based Shanghai Lujiazui International Financial Asset Exchange Co… Read More

January 18, 2016 @ 6:00 am By Spencer Li  |  

The China Banking Regulatory Commission (“CBRC”) issued the highly anticipated draft rules for online lending on December 28, 2015. Ever since the State Council guidelines (“the Guidelines”) for the Chinese internet finance industry were issued in July, rumors about the timing of the online lending… Read More

January 12, 2016 @ 4:21 pm By JD Alois  |  

Industry representatives from the two largest economies in the world, China and the United States, will gather in San Francisco later this month to discuss the future of P2P / marketplace lending.  The conference is organized by Sync US International (Chi Mei International) a bilateral “resource”… Read More

January 12, 2016 @ 2:58 am By Midori Yoshimura  |  

In Shanghai and Shenzhen, administrations for industry and commerce have suspended the registration of Internet finance platforms, according to the Beijing Business Today in ECNS.cn. The publication also notes that in Beijing, the Administration for Industry and Commerce also released a similar statement. However, this has not… Read More

January 9, 2016 @ 3:13 am By Midori Yoshimura  |  

Yirendai, an online consumer finance marketplace in China, on Thursday announced the appointment of Chaomei Chen, former chief risk officer of Lending Club, as a member of the company’s Advisory Committee, effective Jan. 7, 2016, according to a recent press release. Chen will provide strategic advice and insight to… Read More

January 7, 2016 @ 9:18 pm By JD Alois  |  

Global investment crowdfunding platform OurCrowd is perched in one the hottest startup markets in the world: Israel. Between a 1000 and 1500 new startups are launched every year in a country with a relatively small population. Some of these companies have gone on to become… Read More

January 3, 2016 @ 9:50 pm By JD Alois  |  

The China peer to peer lending market is the largest in the world. One reason this is so significant is the fact this incredible amount of money is driven by true peers (small investors) as little institutional money has found its way into the online… Read More

January 3, 2016 @ 2:07 pm By Spencer Li  |  

A flurry of internet finance-related regulatory documents were issued in China last week just before the New Year. On December 28th, the People’s Bank of China (“PBOC”) issued the final rules on online payments while the China Banking Regulatory Commission (“CBRC”) issued the draft rules… Read More

December 31, 2015 @ 9:34 am By Samantha Hurst  |  

Weijinsuo, a Beijing-based peer-to-peer (P2P) lending platform, announced on Thursday that it has raised $46 million (RMB300 million) during its series A lending round, which was led by HNA Capital. According to the China Money Network, Weijinsuo was founded in 2013 and currently has 700,000… Read More