FINV: a leading fintech platform connecting underserved borrowers with financial institutions
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I would like to introduce some unfamiliar companies that may be of some help to your investments.
The company I’m going to introduce is FinVolution Group$FinVolution Group(FINV)$ .
It went public on November 10, 2017.
[Company Profile]
FinVolution Group is a leading fintech platform in China connecting underserved borrowers with financial institutions.
Established in 2007, the Company is a pioneer in China’s online consumer finance industry and has developed strong innovative technologies and has accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence.
The Company’s platform, empowered by proprietary cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience. As of March 31, 2022, the Company had over 145.3 million cumulative registered users.
[History & Events]
In 2007, PPDAI Group Inc（FinVolution Group）was founded in Shanghai as the pioneer batch of P2P platforms in China.
In 2008, PPDAI Group Inc launched its online credit risk assessment system- “Magic Mirror” and fraud detection system- “Ming Mirror”.
In 2011, PPDAI completes Angel financing round.
In 2012, PPDAI completed its Series A funding round with Sequoia Capital.
In 2014, PPDAI completed its Series B funding round with Light Speed China Capital Partners.
In 2015, PPDAI completed it Series C funding round led by VMS Legend Investment Fund and Susquehanna International Group, followed by Sequoia Capital, Light Speed Capital Partners and others.
In 2017, PPDAI Group Inc was listed on the New York Stock Exchange on November 10, 2017 under the ticker “PPDF”
In 2018, PPDAI became one of the first 15 online lenders and consumer finance companies to connect with Baihang Zhengxin ("Baihang Credit"), China's first unified credit-reporting platform.
In 2019, Along with its successful transition to loan facilitation model from P2P model, PPDAI Group Inc changed its name to FinVolution Group and amended its ticker symbol from “PPDF” to “FINV”.
In 2019, FinVolution Group invested in Fujian Haixia Bank and expanded its international operations in Indonesia with a license for Technology and Information Based Financial Lending Institution from the Financial Services Authority of Indonesia.
In 2020, FinVolution Group further strengthened its presence in Indonesia and further expanded to Philippines.
In 2021, FinVolution Group multiple operational metrics soared to historical high and continued to grow its business globally with presence in China, Indonesia, Philippines, Vietnam and Singapore.
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[Competitors]
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