Lufax (), full name Shanghai Lujiazui International Financial Asset Exchange Co., Ltd., is an online Internet finance marketplace headquartered in
Lujiazui,
Shanghai. Founded in 2011, it is an associate of
China Ping An Group.
The company was founded in September 2011, and started with
P2P lending as the only service. It is the second largest peer-to-peer lender in
China
China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...
. 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. 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.
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.
References
External links
lu.com
Ping An Insurance
Financial services companies established in 2011
Peer-to-peer lending companies
Online financial services companies of China
Companies listed on the New York Stock Exchange
{{finance-company-stub