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Lufax

FintechNews Roundup
·Jan. 31, 2018

Chinese Online Lenders Flock to SE Asia

Chinese lenders are moving into Southeast Asian countries to explore new opportunities in lightly regulated countries; according to Global Times, over 50 Chinese lenders have already launched overseas operations in countries like Indonesia and Cambodia; current entrants include well known names like CreditEase, Lufax and jimu.com; some lenders are opening up subsidiaries while others are focusing on partnerships with local companies. Source

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FintechNews Roundup
·Jan. 16, 2018

Chinese Fintech Lufax Eyes $60bn April IPO in Hong Kong

One of China’s leading online wealth management companies Lufax is looking to go public in Hong Kong at a $60bn valuation; the South China Morning Post reports the company intends to file their application by the end of January; Lufax was last valued at $18bn in 2016, they have more than 33 million users and over $75bn in assets under management. Source.

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Peer to Peer Lending
·Jan. 17, 2018

Funding Circle and Lufax: Two High Profile IPOs for 2018

The year is barely two weeks old and we have already learned of IPO plans for two of the world’s...
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FintechUSA
·Jul. 22, 2020

Chinese Fintech Company Lufax Considering a US IPO This Year

On the heels of the Ant Financial IPO news earlier this week leading Chinese online wealth management platform Lufax is...
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FintechNews Roundup
·Mar. 13, 2019

Lufax Raises Series C Round at $39.4 Billion Valuation

The $1.3 billion round was led by private equity firm Primavera Capital and reportedly included Qatar Investment Authority, All-Stars Investment,...
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News RoundupOnline Lending
·Nov. 7, 2016

Lufax CEO Envisions Potential IPO and Annual Growth Over 50%

In an interview on November 7, CEO Gregory Gibb of Lufax, China's largest P2P lender and wealth management platform, said he could envision an IPO to support worldwide expansion; he did not provide further details; reporting elsewhere claims that four banks have been selected to sponsor an IPO on the Hong Kong stock exchange; when Lufax raised US$1.2 billion in January, the company was valued at $18 billion; while the market as a whole is expected to grow between 30% and 40% in 2016, Gibb noted that increasing regulation of the industry in China should give added momentum to leaders like Lufax, which Gibb expects to grow "north of 50%" in the next year.  Source

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FintechNews Roundup
·Dec. 6, 2017

Lufax Working on IPO Plans

Lufax has reportedly hired five banks to work on a Hong Kong IPO which could raise as much as $5 billion; SoftBank’s vision fund is also in talks to invest in the company according to sources; Lufax is the 10th largest unicorn and has delayed IPO plans over the past few years. Source

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Asia/PacFintechNews Roundup
·Aug. 21, 2017

Lufax Becomes Profitable Ahead of Planned IPO

Ping An Insurance Group's online lender Lufax reported that it is now profitable and is hoping to keep that trend for the rest of the year; "Lufax's development is extremely robust. It actually turned around in the first half. We are very confident that it could stay profitable for the full-year," said Jessica Tan Sin-Yin, Ping An's chief operating officer and chief information officer, during the Chinese insurance group's earnings announcement; Lufax is the largest P2P lending platform in China with $225 billion of outstanding loans; according to their latest funding round in January the company is valued at $18.5 billion with 43% being held by Ping An; the company is planning to go public soon and according to CEO Gregory Gibb they have done a lot of homework for Hong Kong ahead of the potential listing. Source

 

 



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Peer to Peer Lending
·Mar. 27, 2015

Lufax: the World’s Fastest Growing P2P Firm.  A Case Study on How a Major Financial Institution Can Build a Fully Integrated P2P Firm

A couple of weeks from now Greg Gibb, the Chairman of Lufax, will be taking the main stage at LendIt...
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FintechNews Roundup
·Jan. 18, 2018

Lend Academy Article: Funding Circle and Lufax: Two High Profile IPOs for 2018

Peter Renton, Founder of Lend Academy and Co-Founder of LendIt shares his perspective on the likely fintech IPOs in 2018. Source

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