Release Date: Aug 25, 2017
Over the past five years, FinTech companies have been evolving themselves into comprehensive FSI(Finance, Securities and Insurance) providers. When most of the companies step into services like lending, credit, consumer finance, etc, FinTech seems to finish its first half, and enter into the 2nd half very soon.
In China, after a savage growth, Chinese FinTech companies are big enough for the government to introduce severe regulations towards FinTech companies to avoid risks, recent tactics like “Net Union Clearing(网联)” is one of the cases. Here are some figures:
In India, payment and lending plays a big role right now, but we can see the innovators are shifting towards two directions:
Let’s see how Chinese leading FinTech companies are playing the offline market.
In China, there are tens of millions of offline businesses and services, such as restaurants, retailers, chain stores, shopping malls, cinemas etc., who are very active for day to day transactions. This is a market that Tencent and Alibaba cannot ignore. How will they act to take this market?
Although WeChat Payment and Alipay have enabled the functions like “Collecting Money from Strangers”, or a company can integrate with WeChat Payment or Alipay to enable their own mobile payment initiative, from 2015, both Alibaba and Tencent adopted a similar strategy to get the offline market by more relying on 3rd party mobile payment vendors. This is the business model of a typical 3rd party vendor:
And the following are how the vendor can make money out of the service:
There are a couple of famous vendors in China, each of them connects tens of millions of offline businesses every day.
Let's look at the landscape panorama from both India and China markets in the following chart.
Company Logo | Company Name | Category(ies) | Financial Status* | One Sentence Description | |
---|---|---|---|---|---|
![]() | Baidu Financial Service Group | Payment, Financing, Wealth Management | NASDAQ: BIDU | Baidu FSG was officially established on Dec 14, 2015. Although providing comprehensive services, compare to TenPay, Ant Financial or even JD Finance, Baidu FSG is weaker as Baidu cannot provide strong enough traffic in the front end. | |
![]() | TenPay | Payment, Financing, Wealth Management, | SEHK: 700 | Unleashing the power of SNS(WeChat & QQ), TenPay has been showing the momentum, even seems to surpass Ant Financial in some areas like offline payment. | |
![]() | ChinaPnR | Payment, B2B, Wealth Management | B Round: 7 million USD, Sept 1, 2011 | One of the earliest FinTech company in China, there are hundreds of companies, especially P2P(peer-to-peer) lending companies, integrated their online payment services. | |
![]() | JD Finance | Payment, Financing, Wealth Management, Insurance | NASDAQ: JD | JD wants to create “one-stop” financial platform. | |
![]() | 99Bill.com | Payment, B2B, Financing, Wealth Management | M&A: 315 million USD, Dec 26, 2014 | According to its website, 99Bill.com serves more than 430 million individual users and 5 million+ business partners. | |
![]() | Ant Financial | Payment, Financing, Credit, Insurance, Wealth Management | B Round: 4.5 billion USD, Apr 19, 2016 | Detailed number as of Mar 31, 2017: AliPay(Payment): 520 million Annual Active Users, Ant Fortune & Yu’e Bao/Leftover Treasures(Wealth Management): 330 million Cumulative Users, Ant Check Later & Ant Cash Now(Financing): 100 million Annual Active Users, Insurance: 392 million Annual Active Users, Credit: 257 million Active Users | |
![]() | UMF(Union Mobile Financial Technology) | Payment, B2B | SZSE: 2537 | Previously belongs to China Union, UMF provides services towards 3,300 large enterprises and 800K SMBs for 480 million individuals. UMF now is a subsidiary of Haili Metal One. | |
![]() | IdeaCome | Insurance | OTC: 833109 | Top Internet insurance provider to 1. Enable online auto insurance; 2. Aggregate insurance products and agents to sell to individuals; 3. Act as operation agent towards traditional insurance partners. | |
![]() | Zhong An Insurance | Insurance | A Round: 934 million USD | With a valuation of over 8 billion USD, Zhong An Insurance is a purely online insurance company, who completely reshape the insurance industry in China from product design to claims servicing. It develops very innovative yet Internet oriented products which traditional insurance companies never provided. | |
![]() | Zui Hui Bao | Insurance | N.A | Apart from car insurance, Zui Hui Bao also integrates some financial / payment features into their app to make it uniqueness. | |
![]() | An Xin de Li | Financing | A Round: 10 million USD, May 1, 2015 | A peer-to-peer lending company focus on agricultural industry chain cases. | |
![]() | Dianrong | Financing | D Round: 220 million USD, Aug 2, 2017 | Leading peer-to-peer lending platform. | |
![]() | MSXF | Financing | N.A | Meaning of “Immediately Finance”, MSXF provide lending service as well as credit card similar service. | |
![]() | PiNTEC | Financing | C Round: 84 million USD | Previously named “JIMUHEZI”, a leading peer-to-peer lending platform. Then upgrade its brand to PiNTEC in 2016, providing Asset Allocation Solution named “xuanji” and fund selling for wealth management, Lending Risk Management System called “dumiao”, as well as insurance services. | |
![]() | Qufenqi | Financing | Strategic Investment: 375 million RMB, Oct 25, 2016; F Round: 3 billion RMB, July 7, 2016 | Starting from university students, Qufenqi innovates consumer financing by installment. | |
![]() | Rong360 | Financing | D Round: 1.035 billion RMB, Oct 14, 2015 | Rong 360 is dedicated to serve consumers and SMEs with searching, recommending and applying for different financial products. | |
![]() | WeCash | Financing, Credit | C Round: 80 million USD, Apr 5, 2017 | WeCash is the first online credit assessment company, which use big data and personal SNS behavior for the assessment, and then provide financial services accordingly. | |
![]() | Souyidai | Financing | N.A | Sohu’s subsidiary for lending. | |
![]() | FeeDee | Financing, Wealth Management, Financial Tools | B+ Round: Undisclosed Amount, Apr 15, 2015 | FeeDee provides personal accounting tool along with financing and wealth management services towards 260 million users. | |
![]() | VZOOM CREDIT | Financing | N.A | VZOOM CREDIT innovatively using taxation history to provide loans for SMEs. | |
![]() | WeBank | Banking | A Round: 450 million USE, Jan 28, 2016 | Tencent sponsored innovative Internet bank. | |
![]() | MyBank | Banking | N.A | Alibaba sponsored innovative Internet bank. | |
![]() | WeLab | Financing | B Round: 1 billion RMB, Jan 20, 2016 | Not only in China, WeLab also provides services in Hong Kong. | |
![]() | U51 | Financing | C+ Round: 84 million USD, Oct 26, 2016; C Round: 310 million USD, Sept 20, 2016 | U51 provides 3 core business: credit card billing management app(70 million+ users, covering 30%+ active credit cards), lending, and credit card similar financing services. | |
![]() | Jinfuzi | Wealth Management | C Round: Undisclosed Amount, Sept 2, 2016 | Meaning of “Golden Axe”, it allows users to search, compare, consult for different wealth management products in order to enable the users to find out the most suitable one. | |
![]() | Quark Finance | Wealth Management | M&A: Dianrong Acquired Quark, July 13, 2017 | Leading peer-to-peer lending platform. | |
![]() | Lufax | Wealth Management | B Round: 1.216 billion USD, Jan 8, 2016 | PingAn’s subsidiary for wealth management. Previously a peer-to-peer platform, Lufax now becomes a comprehensive platform for wealth management towards 30 million users(2016 year end figure). | |
![]() | Wa Cai | Wealth Management | Strategic Investment: 42 million USD, May 15, 2017 | Comprehensive online wealth management platform including billing management, wealth management and community, etc. | |
![]() | ZiPEiYi | Wealth Management | N.A | Smart / AI based securities investment consultant. | |
![]() | Shouqianba | Payment Gateway | A+ Round: 30 million RMB, Dec 13, 2015 | China’s #1 mobile payment gateway provider, providing services to offline merchants by aggregating all the major mobile payment methods, such as AliPay, WeChat Payment, QQ Payment, JD Pay, etc. | |
![]() | qfpay | Payment Gateway | Strategic Investment: Undisclosed Amount, Apr 27, 2017; Strategic Investment: 200 million RMB, Nov 23, 2016 | Major mobile payment services aggregator for offline merchants. | |
![]() | PING++ | Payment Gateway | B Round: 10 million USD, Jan 4, 2016 | Provide SDK and APIs for developer to integrate their aggregating payment gateway. | |
![]() | Futu5 | Financial Tools, Securities | C Round: 146 million USD, June 12, 2017 | Stock trading system for US stocks, HK stocks and China A Shares. | |
![]() | Tiger Brokers | Financial Tools, Securities | Strategic Investment: Undisclosed Amount, Mar 29, 2017; B+ Round: 100 million RMB, Mar 22, 2017 | Tiger Brokers provide trading system for US stocks, HK stocks and China A shares as well. | |
![]() | ChinaScope | Financial Tools | B Round: Undisclosed Amount, Nov 30, 2014 | Using financial and data analytics technologies, ChinaScope turns individual companies become interrelated, which enables users’ cross-market research and industrial analysis. | |
![]() | TalkingData | Financial Tools | C Round: 100 million USD, Jan 25, 2016 | Founded in 2011, TalkingData is China’s largest independent Big Data service platform. With coverage of more than 600 million smart devices on a monthly basis, TalkingData provides services to industrial customers in financial, real estate, FMCG, retail, travel, government sectors. Over 120,000 mobile applications and 100,000 app developers use TalkingData’s services. | |
![]() | NEO | Blockchain | N.A | As China's first ever original and open source public chain project, NEO serves as a smart assets platform. | |
![]() | GOP | Blockchain | N.A | Blockchain wallet provider. | |
![]() | OKLink | Blockchain | N.A | OKLink is the global settlement platform for running a remittance app or business in the new generation. | |
![]() | 100credit | Credit | B+ Round: Undisclosed Amount, June 16, 2016 | Using big data technology to provide risk and credit information to over 1,500 customers in China. | |
![]() | IceKredit | Credit | A Round: 110 million RMB, Apr 19, 2017 | SMB & personal credit rating driven by big data technologies. | |
![]() | Juxinli.com | Credit | B Round: 100 million RMB, Jun 19, 2017 | Over 1,300 institutions, 40 million+ individual lenders using Julixin.com for credit and risk management. | |
![]() | QuantGroup | Credit | C Round: 500 million RMB, Nov 25, 2016 | Owns 450 million pieces of relationships of users, QuantGroup is the leading credit assessment company in China. | |
![]() | Tongdun Technology | Credit | B+ Round: 32 million USD, Apr 13, 2016 | Founded in 2013, Hangzhou based Tongdun Technology is a professional service provider in the field of Intelligent Big Data Risk Management. | |
![]() | Qian Hai Zheng Xin | Credit | N.A | Ping An group’s subsidiary on credit business. |
*: As of Aug 20, 2017.
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