According to the findings of Transparency market research, the value of fintech lending will command between $150 billion and $490 billion. There are many fintech companies that are driving this growth. Here are top 10 of these fintech lending companies and their worth.
Valued at US$18.5 Billion, Lufax is a platform for peer-peer lending. The company was founded in 2011 with its headquarters shanghai. Currently, in addition to operating online, it also operates in over 80 cities. Lufax is one of the largest fintech lending company in China and the world at large. The company has provided loans worth over US$2.5.
- JD Finance
Founded in 1998 with its headquarters in Chaoyang, China, JD Finance is valued at US$7 billion. The company is a subsidiary of JD.com, a leading provider of online shopping services in the country. JD Finance provides credit to consumers specifically shopping on JD.com.
SoFi was established in 2011 with headquarters in San Francisco, United States. Currently, the company is valued at US$4 billion. Its areas of focus include peer-to-peer lending particularly for student loan financing, various personal loans, and mortgages. So far, SoFi has provided more than $10 billion in loans.
GreenSky was established in 2006 with its headquarters in Atlanta. The company is valued at US$2 billion. The company offers credit to businesses by allowing them to take and pay in instalments. GreenSky has partnered with other companies such as Mac Tools and Room to Go.
- Avant Credit
Avant Credit was founded in 2012 and is headquartered in Chicago. It is worth US$2 billion. Since its launch, the company has provided financial accommodation to over 450,000 borrowers, spending over $2.5 billion in the process.
Founded in 2005, Prosper has its headquarters in San Francisco. Today, the company is valued at US$1.9 billion. It provides a platform for consumer peer-to-peer lending. It is backed by among others, Eric Schmidt, the former Google CEO, Credit Suisse and Fund Sequoia Capital. So far, more than $6 billion has been lent through the platform.
- Funding Circle
Funding Circle is a peer-to-peer lending company founded in 2009. The company is worth US$1 billion and has headquarters in London. focusing on business loans, Funding Circle has, since its establishment, funded different businesses to the tune of $2.5 billion.
Kabbage was founded in 2009 and is headquartered in Atlanta. The company is currently valued at US$1 billion. Kabbage affords small business an opportunity to access credit. Kabbage has a fully automated loan application system that processes loans in less than 10 minutes. the company leverages on technology to obtain information from multiple sources, especially social media.
Established in 2013 with the head office in Beijing, Jimubox is a peer-to-peer loan provider. The company offers loans to consumers and small businesses. It is part of the companies popularly known as internet finance and is valued at US$1 billion.
- China Rapid Finance
China Rapid Finance was established in 2001 in Beijing but only started online lending in 2011. The company is a leading peer-to-peer consumer lender in China. It is currently valued at US$1 billion.
As can be observed, there are many companies that are valued at US$1 billion. It is possible that we have left out some companies as this article could only discuss ten. If you have others that you fill should not have been left out, feel free to add them in the comments section below.