The weekly WieyangX Fintech Review, as reported by Crowdfund Insider, covers recent fintech updates from China; the People’s Bank of China has made plans for a unified credit platform by end of 2017; Chinese fintech Rong360 had their subsidiary Jianpu Technology listed on the NYSE, becoming the sixth IPO recently; JD Finance, through their subsidiary Jing Dong Xu Hang Online Lending Information & Intermediary Service Ltd., is finally getting into the P2P Lending market. Source.
Jianpu Technology, a subsidiary of Rong360, has filed for a $200mn IPO in the US; Goldman Sachs, Morgan Stanley and JP Morgan are bookrunners for the deal; Jianpu is an open recommendation platform for loan and credit card applications; the company has seen revenue jump 112 percent from 2015 to 2016 and thus far in the first six months of 2017 revenue has jumped 170 percent year on year. Source.