Tagged: lufax

Ping An Continues to Implement their “Finance + Technology” Strategy as Earnings Rise

Ping An announced Q3 earnings this week for the quarter ending on September 30th. The company reported an operating profit of the parent company of RMB 85,637 million (USD $12.3 Billion), up 19.5% year on year. Net profit attributable to shareholders of the parent company rose… Read More

China: WeiyangX Fintech Review

Robo-advisors Now Required to Gain License to Operate in Mainland China On November 17th, top financial regulators in mainland China (including PBOC, CBRC, CSRC, CIRC and SAFE) released a new set of rules covering the country’s asset management market. It is the first time that… Read More

Singapore Fintech Hub: Dominant for Now As Regulations Count

Singapore has worked hard to gain, and retain, the crown of Asian Fintech Hub and you can guarantee it won’t give it up without a fight. There are several countries that are in the race. Recently both Australia and Hong Kong have staked a claim… Read More

P2P Lender Lufax Set to Open First Oversea Platform in Singapore

Just eight months after announcing its plans to move into Hong Kong and Singapore, Chinese peer-to-peer lending platform Lufax is set to make its way to Singapore. It is now prepping to launch its new platform called Lu International.  As previously reported, Lufax Chairman and… 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

Ping An Launches Fintech Fund

Sepaking at the recent WSJ D.Live Asia event in Hong Kong, Ping An CIO Jonathan Larsen said Ping An is launching a new fund to invest in early stage Fintech ranging from $10 million to $30 million, according to a report from Dow Jones (here)…. Read More

Report: P2P Lender Lufax Moving Away from Loans & Into Wealth Management

Lufax, othe largest peer to peer lenders in the world, is pivoting away from the online lending business. This is according to a report in WSJ.com. Lufax operates online and off – with more than 500 brick and mortar locations in over 200 cities. The… Read More

China: WeiyangX Fintech Review

PPmoney Secures a ¥375 Million B Round Funding & Announces Strategy of Group Operation. On December 12th, online wealth management platform PPmoney secured ¥375 million in B round funding. Investors included Ants Capital, Yang Jianxin (actual controller of KJT.com) and Yuetai holding group. Meanwhile, PPmoney… Read More

China: WeiyangX Fintech Review

JD Finance Has Been Carved Out of JD.COM On November 15th, JD.COM announced it would transfer/sell all the shares it held in JD Finance. In other words, JD.COM will no longer be the legitimate owner of JD Finance. This corporate reorganization was said to make… Read More

Brief: China P2P Lender Lufax Announces Hong Kong & Singapore Expansion

Lufax, one of China’s largest peer to peer lending platforms, has announced plans to expand into both Hong Kong and Singapore. This news comes less than two months after the lender announced preparations for its Hong Kong Listing and IPO. Lufax Chairman and CEO, Gregory… Read More

China P2P IPO: Lufax Preps for Hong Kong Listing

Lufax, one of China’s largest peer to peer lending platforms, is preparing for its long-awaited IPO. This is according to a report in Reuters that stated the IPO could raise $5 billion. At the last funding round, Lufax captured a valuation topping $18 billion.  China… Read More

Completed: Chinese P2P Lender Lufax Raises $1.2B; Valued at $18.5 Billion

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

Huge: Lufax Raising Capital at $18 Billion Valuation

Peer to peer lender Lufax is close to raising $1 billion at an astounding valuation of $18 billion.  Shanghai based Lufax, recently rebranded as Lu.com, raised capital earlier this year at a solid $10 billion valuation. Investor demand is said to be very strong. But,… Read More

Are Chinese Platforms Abandoning the Peer-to-Peer Model?

Following in the footsteps of Chinese internet giants such as Alibaba, Tencent, and JD.com, leading Chinese P2P platforms have begun evolving into one-stop wealth management platforms. Alibaba’s Ant Financial, Tencent’s WeBank, and JD.com’s JD Finance (for some background on these platforms, please refer to a… Read More

Peer-to-Peer Lender Lufax Achieves New Milestone: Registered 10 Million Users

Lufax, China’s finance marketplace, announced today that its flagship P2P marketplaces have reached 10 million registered users. Gregory Gibb, Chairman and CEO of Lufax, stated: “We are excited to achieve this significant milestone. Our growth continues to accelerate as Lufax users experience the security, innovation and convenience… Read More

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

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

Chinese P2P Platform Yirendai Said to Plan $300 Million IPO

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

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

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

Lufax CEO: Big Risk of Fraud in China P2P Lending

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

Brief: Alibaba & Tencent Founders Buy Shares in Ping An

Alibaba founder Jack Ma and Pony Ma, founder of Tencent Holding have purchased shares in large China insurer Ping An.  According to a report in the FT (subscription), the pair participated in a private placement by Ping An where the company raised $4.7 billion this past… Read More

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