Lufax
Online Internet finance marketplace
From Wikipedia, the free encyclopedia
Lufax (Chinese: 陆金所; pinyin: Lùjīnsuǒ), full name Shanghai Lujiazui International Financial Asset Exchange Co., Ltd., is an online Internet finance marketplace headquartered in Lujiazui, Shanghai.[1][2] Founded in 2011, it is an associate of China Ping An Group.[3]
 | |
| Company type | Public |
|---|---|
| NYSE: LU | |
| Industry | Personal finance, Software |
| Founded | 2011 |
| Headquarters | Shanghai China |
| Products | Financial services Peer-to-peer lending |
| Website | lu.com |
The company was founded in September 2011,[4] and started with P2P lending as the only service. It is the second largest peer-to-peer lender in China.[5] Now the company is said to be branching out their business gradually, becoming a much broader platform that work together with funds, insurance companies and financial license holders.[6] The platform makes money by matching borrowers with investors, collecting a 4% fee on each loan. Since the start of the business, the company has arranged more than 200,000 peer-to-peer loans that worth a total of $2.5 billion.[7]
By 2015, Ping An Insurance (Group) Co. owns 43% of the company. On the surface Lufax is a part of Ping An Group, and maintains a good relationship with the Chinese government.[8]
