It is no secret that the FinTech scene in China has been bubbling along for years now. Thousands of FinTech startups have sprung up over the years, and it's open season for VCs and Investors with deep pockets. Whilst it can be hard to keep track of the countless FinTech startups in China that rise and fall, the FinTechs listed below are the cream of the crop.
China's Top Round A & B FinTech Startups
1. Yooli (Founded: 2013, Funding: Round B. Total Equity Funding $20 million)
Yooli is a network securities company, aiming to provide protection for investors, safeguards, and other financial professionals. It offers investors access to loans that are sourced from Yooli's network of smaller P2P platforms. Yooli's main claim to fame is its credit assessment process in which the credit quality of each borrower is analysed with the help of a third party, a process that has helped to build trust and confidence between Yooli and it borrowers and lenders.
2. 100Credit (Founded: 2014, Funding: Round B. Total Equity Funding $41 million)
100Credit is an Internet credit service provider that utilises Big Data to assess individual’s credit ratings. The start-up analyses multiple aspects of an individual’s online activities to help lenders better assess credit risk of potential borrowers, as well as monitor existing loans for potential defaults.
3. Anxindeli (Founded: 2014, Funding: Round B)
Anxindeli provides financial services to the agriculture industry and has established strategic partnerships with several companies engaged in animal husbandry. It aims to provide financing for small and micro enterprises that would otherwise be unable to obtain credit from mainstream financial services organisations.
4. Ice Kredit (Founded: 2015, Funding: Round A)
Shanghai Ice Kredit Information Technologies Co., Ltd. (Ice Kredit) uses machine learning algorithms and big data technology to perform credit assessments on micro businesses as well as individuals.
5. RQuest (Founded: 2014, Funding: Round A)
RQuest'sprincipal services include risk management, valuation pricing, asset securitisation and asset management. The company’s risk management platform measures risk across a variety of different asset classes for a number of clients including regulators, banks, securities companies, insurers and other financial services institutions.
6. ChinaPnR (Founded: 2006 Funding: Round B. Total Equity Funding $6.7 million)
ChinaPNR is a financial payment company focused on payment services such as online, POS, and mobile payment. It is also focused on offering customised integrated payment solutions to its clients.
7. Ping ++ (Founded: 2014, Funding: Round B. Total Equity Funding $10 million)
Ping++is the payment arm of Shanghai Ping ++ Internet Technologies Co., Ltd. As a specialised provider of SaaS payment systems, Ping++ provides payment services for a large number of businesses in both the business-to-business and consumer-to-business markets.
8. 3 Golden (Founded: 2007, Funding: Round B)
3 Golden Beijing Technologies Co., Ltd. (3GOLDEN) provides big data credit services for financial services institutions, governments and enterprises. 3 Golden makes use of cloud technology with 3 main technologies: cloud data mining, cloud credit computing and cloud structural services. The company also provides real-time behavioural data assessment and analysis to help companies carry out efficient credit reviews.
9. Juxinli (Founded: 2013, Funding: Round B. Total Equity Funding $1.15 million)
Juxinli is a big data company that was founded in 2013. It helps financial services institutions collect and analyse information obtained from the Internet and develops risk control solutions by harnessing the power of Big Data.
10. Quark Finance (Founded: 2014, Funding: Round B)
Quark Finance is a consumer finance company. The company has developed the ‘Quark Niuduan’ risk management system, which provides risk pricing services for small and micro enterprises as well as individual consumers.
China's Top Round C to F FinTech Startups
1. Dianrong (Founded: 2012, Funding: Round C. Total Equity Funding: $219 million)
Dianrong is a Chinese P2P Lending Platform founded by lending club co-founder Soul Htite. The FinTech focuses on small business and personal loans, filling a market that is often handled poorly by Chinese state-owned banks. It utilises information provided by third party data and credit consulting companies, and uses a risk weighting system to select assets.
2. Baifendian (Founded: 2009, Funding: Round C. Total Equity Funding: $ 42.2 million)
Baifendian assists mostly Internet companies, financial services institutions and other business entities in building Big Data platforms and harnessing SaaS technologies. The startup also provides integrated optimisation solutions for online retail and e-commerce websites by providing in-site traffic conversion and business intelligence data analysis.
3. JFZ.com (Jinfuzi) (Founded: 2012, Funding: Round C. Total Equity Funding $60 million)
Shenzhen JFZ Capital Management Co., Ltd. (JFZ) is an Internet wealth management company that provides wealth management services for high net worth individuals. JFZ’s aim is to become an established wealth management platform for high-end investors.
4. PINTEC (Founded: 2012, Funding: Round C. Total Equity Funding $131.19 million)
PINTEC utilises Big Data and innovative technologies to provide smart financial services and recommendations to consumers and small businesses. It also helps businesses and consumers broaden their access to financial services in general. PINTEC is comprised of 3 subsidiaries: Dumiao, Jumiubox, and Xuanji. Dumiao uses AI in providing loans to consumers, Xuanji is an online advisory tool made for the asset management industry, and Jimubox is a online marketplace for lending.
5. Qudian (Founded: 2014, Funding: Round F. Total Equity Funding $906 million)
Qudian Group operates two main business platforms: a consumer finance platform and a micro credit lending platform. The company mainly offers credit to young and middle aged consumers and has made several partnerships with financial services, e-commence, digital services, and FMGG companies.
6. Rong360.com (Founded: 2011, Funding: Round D. Total Equity Funding $258 million)
Rong360.com analyses and stores data whilst providing individual consumers and small businesses with recommendations as to how best to expand their business. Its business comprises loans, credit cards and wealth management services.
7. BBD (Founded: 2013, Funding: Round C)
BBD is known in China as the developer of the COSR big data service framework. It has been granted the Certificate of Enterprise Credit Reference Business from the Central Bank along with various other licenses. The startup is committed to ensuring the availability, accuracy and confidentiality of the data it provides.
8. Talking Data (Founded: 2011, Funding: Round C. Total Equity Funding $10 million)
TalkingData’s advanced data statistics and analytic software have reached nearly 1.5 billion mobile devices in China, providing the most data-rich, reliable and profound market reports from benchmark KPIs, to user behaviour studies, to industry movements, trends, and forecasts.
9. U51.com (Founded: 2012, Funding: Round C. Total Equity Funding $444 million)
My Credit is a top credit management service supplier in China. As the company behind intelligent bill management App 51 Credit Card Manager, the startup now has more than 70 million qualified users with business covering online cards application, wealth management, lending, installment and more.
10. China Rapid Finance (Founded: 2001, Funding: Round C. Total Equity Funding $91 million)
China Rapid Finance is China’s largest online consumer lending marketplace serving online users and China’s emerging middle class. The startup provides consumer's with credit access to the fast-growing Chinese market, the second largest market in the world and a market that is predicted to expand to a value of more than US $870 billion by 2020. Its technology enables socially inclusive financing to the most creditworthy individuals, serving a potential 500 million consumers who are economically active but never have had access to bank credit.
11. PPDai (Founded: 2007, Funding: Round C. Total Equity Funding $70.2 million)
PPDai is an online platform for peer-to-peer small unsecured loans in China. The startup's business revolves around the construction of a safe, high-performance, network platform that standardises and analyses a consumer's debit and credit behaviours in order to bring returns to both lenders and borrowers.
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