Tagged: lufax

January 17, 2024 @ 10:28 am By JD Alois  |  

Once one of the largest peer-to-peer lenders in the world, China’s Lufax (NYSE:LU) has hit an all-time low trading on the NYSE. The bid-ask of shares is around $2.17. A year ago, it was trading at over $10 a share, thus delivering a spectacular collapse… Read More

November 3, 2020 @ 9:45 pm By Omar Faridi  |  

Chinese Fintech firm Lufax had been planning to secure $2.36 billion through its US initial public offering (IPO). As previously reported, Lufax was once a top peer to peer lending platform but has since shifted into other areas of Fintech as well as online lending…. Read More

October 24, 2020 @ 3:23 pm By Omar Faridi  |  

Chinese Fintech firm Lufax is reportedly planning to secure $2.36 billion through its US initial public offering (IPO). Lufax was once a top peer to peer lending platform but has since shifted into other areas of Fintech as well as online lending. Lufax’s management noted… Read More

December 25, 2019 @ 11:30 pm By Xu Gao  |  

China to Enact Personal Information Protection Law and Data Security Law in 2020 On December 20th, the Legislative Affairs Commission of the NPC Standing Committee held its third press conference. According to the Legislative Law of the People’s Republic of China, the Standing Committee of… Read More

December 12, 2019 @ 4:07 pm By Omar Faridi  |  

Greg Gibb, CEO at Lufax, an online wealth management platform and tech solution provider for local governments and financial institutions, recently shared his views and insights on the future of Fintech, during the Committee of 100 Greater China Conference and Gala 2019, which were held… Read More

July 22, 2019 @ 10:49 am By JD Alois  |  

Not too long ago, the Chinese peer to peer lending industry was growing at a breakneck speed and the largest online lending market in the world. This sector of Fintech was the enormous in China as big names and aspiring platforms moved quickly to fill… Read More

March 13, 2019 @ 2:21 pm By Samantha Hurst  |  

Following its Series C funding round, which secured $1.3 million, Chinese peer-to-peer lending platform Lufax Holding has reportedly increased its total estimated valuation to $39.4 billion. Launched in 2012, Lufax provides professional investment and financial services for SMEs and individual customers. The platform is also… Read More

October 30, 2018 @ 4:26 pm By JD Alois  |  

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

November 25, 2017 @ 11:23 am By Xu Gao  |  

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

August 17, 2017 @ 11:17 pm By JD Alois  |  

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

July 17, 2017 @ 3:36 pm By Samantha Hurst  |  

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

June 19, 2017 @ 6:22 pm By Timothy Li  |  

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

June 10, 2017 @ 10:15 am By Cole Lyons  |  

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

February 24, 2017 @ 7:52 pm By JD Alois  |  

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

December 21, 2016 @ 4:56 am By Xu Gao  |  

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

November 23, 2016 @ 7:58 am By Xu Gao  |  

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

November 15, 2016 @ 9:40 am By Samantha Hurst  |  

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

September 23, 2016 @ 11:03 am By JD Alois  |  

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

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

December 14, 2015 @ 12:51 pm By JD Alois  |  

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