Lufax
| Private | |
| Industry | Personal finance, Software |
| Founded | 2011 |
| Headquarters |
Shanghai China |
| Products | Financial Services, Peer-to-peer lending |
| Website | lu.com |
Lufax (Chinese: 陆金所; pinyin: Lùjīnsuŏ), full name Shanghai Lujiazui International Financial Asset Exchange Co., Ltd., is an online Internet finance marketplace in China headquartered in Lujiazui, Shanghai.[1][2] Founded in 2011, it is an associate of China Ping An Group.[3]
The company was founded in September 2011,[4] and started with P2P lending as the only product. It is the second largest Peer-to-peer lender in China. [5]Now the company is said to be branching out their business gradually, becoming a much broader platform that work together with funds, insurance companies and financial license holders.[6] The platform makes money by matching borrowers with investors, collecting a 4% fee on each loan. Since the start of the business, the company has arranged more than 200,000 peer-to-peer loans that worth a total of $2.5 billion. [7]
The group is currently 43% owned by Ping An Insurance (Group) Co. [8]
References
- ↑ Lufax. "About Us".
- ↑ "Company Overview of Shanghai Lujiazui International Financial Asset Exchange Co.,Ltd.". Bloomberg.com. April 7, 2014.
- ↑ Jason Jones (May 4, 2014). "The Most Important Chinese P2P Lending Companies". Lend Academy.
- ↑ Kwong Man-ki (April 12, 2015). "Mainland China's peer-to-peer pioneer lauds big innovation for a big place". South China Morning Post China.
- ↑ Paul Schulte (April 7, 2015). "3 Reasons to Buy China". Barron's.
- ↑ Kwong Man-ki (April 12, 2015). "Lufax rides internet finance boom". South China Morning Post.
- ↑ Rick Carew and Telis Demos (April 16, 2015). "China’s Lufax Valued at Nearly $10 Billion in Recent Funding Round". The Wall Street Journal.
- ↑ Zeke Faux (April 15, 2015). "Most Chinese Peer-to-Peer Lenders Will Fail, Lufax’s Gibb Says". Bloomberg Business.