Tagged: lufax

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

China: The Different Categories of Peer to Peer Lending Platforms

The biggest Peer to Peer (P2P) lending market, China, has been experiencing explosive growth. After two articles introducing the historical growth and outlook for this market, we are going to take a micro look on the huge variety of (P2P) lending platforms emerging in China…. Read More

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