China Rapid Finance Reaches Loan Milestone

Online lender China Rapid Finance said early Monday it has reached a milestone of 20 million cumulative loans on its platform since inception, nearly double from 10.7 million loans at the end of the 2016. On a year-over-year basis, Q2 facilitated loans jumped by over 350% to more than 5 million, up from approximately 1.1 million cumulative loans in the same quarter of last year. Approximately 73% of borrowers on its marketplace were repeat borrowers as of March 31.

The company’s technological advantage and vast data access enables it to efficiently identify and acquire prime and near-prime emerging middle-class, mobile active consumers on larger scale and lower risk.

By Bucky Rini