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Funding Circle and Lufax: Two High Profile IPOs for 2018

The two global fintech leaders will likely IPO in London and Hong Kong respectively some time this year.

January 17, 2018 By Peter Renton Leave a Comment

Views: 145

The year is barely two weeks old and we have already learned of IPO plans for two of the world’s leading fintech companies. Funding Circle has become a leading global brand in small business lending with operations in the UK, US, The Netherlands and Germany. Lufax is the Chinese fintech giant that began life as a peer to peer lender back in 2012 but has since expanded to become a leader in online wealth management.

Lufax is Preparing for an April IPO in Hong Kong

Neither IPO is a surprise as both companies have indicated their intentions before. But we now have a clearer indication on the timing. First off the rank will likely be Lufax. The South China Morning Post reported that Lufax is planning to do their IPO in Hong Kong in April at a possible valuation of US$60 billion. This would be more than three times the valuation of their previous funding round in 2016.

I interviewed the CEO of Lufax on the Lend Academy Podcast a few months ago and he said they were ready to go with the IPO but they were waiting for the timing to be right. With more clarity on the regulatory front and no significant negative news coming out of China recently the timing certainly looks to be good. Of course, Lufax has not commented officially on the story but reportedly they have hired bankers including Citic Securities, Citi, JP Morgan, Morgan Stanley and Goldman Sachs.

A Funding Circle IPO in the Fall?

[Read more…]

Filed Under: Peer to Peer Lending Tagged With: Funding Circle, IPO, Lufax

Views: 145

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

March 27, 2015 By Peter Renton Leave a Comment

Views: 1,316

Lufax logo

A couple of weeks from now Greg Gibb, the Chairman of Lufax, will be taking the main stage at LendIt to introduce his firm to the online lending world and show everyone what it looks like when a major financial institution decides to organically build a P2P firm.

In less than three years, Lufax is already the world’s third largest P2P firm and it is easily the fastest growing.  By throwing the weight of Ping An Insurance behind it, Lufax is on a trajectory to pull away from everyone and redefine P2P’s position within the greater financial services community.

A lot of people often ask the question, will the banks ever enter the P2P market?  If a bank were to ever get serious about P2P, their first step should be to study the Ping An-Lufax playbook and learn from this huge success story.

My partner, Jason Jones, will be conducting a fireside chat with Greg at LendIt and he sent along a few question to the Lufax team in order to set the stage.

Q: What is Lufax and why did Ping An Insurance Company of China create it? 

A: Lufax offers a broad set of online P2P driven financial services that are at the forefront of consumer lending, commercial banking and investment banking services for individuals and businesses. Founded in 2012, Lufax has revolutionized the way individuals and companies in China think about financing, through financial innovation and sound risk management.

Ping An Group created Lufax based on a desire to better connect individuals and business that need funding with investors who are looking for investment opportunities. Lufax is a key part of Ping An Group’s Internet finance strategy and helps drive business for the company’s wealth management division. [Read more…]

Filed Under: Peer to Peer Lending Tagged With: China, Greg Gibb, Lufax

Views: 1,316

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ABOUT LENDIT FINTECH NEWS

LendIt Fintech News, Powered by Lend Academy, has been bringing you all the news and information about fintech and online lending since 2010 when it was founded by Peter Renton. We not only have the industry’s most active news site, but also the largest investor forum and the first and most popular podcast.

We are a team of fintech enthusiasts who have been covering the industry for many years. With a deep knowledge of online lending, digital banking, blockchain, artificial intelligence and more our team covers the daily news and writes in-depth editorials.

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