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NYSE-listed P2P firm confident on its business model

CHINA Rapid Finance will follow the strategy of “low and grow” to realize a stable and sustainable growth after its debut on the New York Stock Exchange on April 28,  Wang Zhengyu, founder and CEO of the Shanghai-based peer-to-peer lender, said in Shanghai yesterday.

As the first Chinese Internet fintech firm starting trade on the NYSE this year, China Rapid Finance is acknowledge by US investors for its business model for being a pure platform, which means no involvement in borrowing and lending, but staying as an agent to offer reliable information, said Wang, who talked to the media for the first time after the stock debut.

The company also released its unaudited fiscal data for the first quarter of this year, during which it net 545,000 new borrowers to get US$485 million loans. It lifted the total borrowers of China Rapid Finance to 2 million people, with an accumulated loan for 15 million deals.


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