Tagged: china

April 28, 2015 @ 4:36 pm By Samantha Hurst  |  

Scanadu, a health tech startup that is known for creating the “The Worlds First Medical Tricorder,”announced this week that it has raised $35 million during a series B financing round. According to TechCrunch, the round was led by Chinese investment firms Fosun International and Tencent Holdings Limited,… Read More

April 19, 2015 @ 11:37 pm By JD Alois  |  

  Former Secretary of Treasury Larry Summers delivered a solid and well received speech at LendIt last week where he criticized the failures of traditional finance while lauding the innovations of internet finance – one that will remove banking from the shadows of the past… Read More

April 18, 2015 @ 5:37 pm By JD Alois  |  

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… Read More

April 17, 2015 @ 11:45 am By Samantha Hurst  |  

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… Read More

April 17, 2015 @ 2:03 am By Midori Yoshimura  |  

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…. Read More

April 16, 2015 @ 11:30 pm By JD Alois  |  

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… Read More

April 14, 2015 @ 10:04 am By Samantha Hurst  |  

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… Read More

April 12, 2015 @ 4:44 pm By JD Alois  |  

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… Read More

April 9, 2015 @ 4:19 pm By JD Alois  |  

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… Read More

April 8, 2015 @ 11:51 am By Samantha Hurst  |  

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…. Read More

April 3, 2015 @ 6:19 am By JD Alois  |  

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… Read More

April 2, 2015 @ 9:57 am By JD Alois  |  

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… Read More

April 1, 2015 @ 10:12 am By Erin Hobey  |  

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… Read More

March 30, 2015 @ 10:02 am By Erin Hobey  |  

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… Read More

March 27, 2015 @ 1:31 pm By Samantha Hurst  |  

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:… Read More

March 27, 2015 @ 11:11 am By JD Alois  |  

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… Read More

March 26, 2015 @ 6:37 pm By JD Alois  |  

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… Read More

March 19, 2015 @ 8:44 am By JD Alois  |  

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… Read More

March 16, 2015 @ 10:25 am By JD Alois  |  

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… Read More

March 5, 2015 @ 11:21 pm By JD Alois  |  

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… Read More