With $900m IPO, lending company Qudian leads pack of Chinese fintech firms aiming to go public

With $900m IPO, lending company Qudian leads pack of Chinese fintech firms aiming to go public

Photo credit: danielvfung / 123RF. Chinese consumer lending company Qudian raised a whopping US$900 million in its initial public offering (IPO) on the New York Stock Exchange – the largest US listing ever by a Chinese fintech firm. Founded in 2014, Qudian offers a range of credit services to Chinese consumers, such as small cash loans and installment-based payment for smartphones, cameras, and laptops. From January to June, the average micro-loan on Qudian was about US$139. Last year, the company recorded a net income of US$87 million. The Beijing-based fintech company uses machine learning to assess credit and process […]