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JD’s fintech arm acquires a peer-to-peer lending platform

Written by Song Jingli Published on 

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JD Digits is now valued above USD 19.4 billion.

JD Digits, JD.com’s fintech arm and formerly known as JD Finance, acquired a 100% stake in the company that runs Lending51.com, Chinese media outlet National Business Daily reported Wednesday, citing multiple changes on corporate registration information.

The outstanding loans on Lending51.com at the end of March were RMB 6.22 million (USD 926,475), none of which had been overdue for more than 90 days, according to the platform’s monthly disclosure.

The platform which charges borrowers a 3.99% fee of the principal of each loan, had linked 3,068 individual lenders with 59 borrowers in need of cash.

JD Digits, now valued above RMB 130 billion (USD 19.4 billion), declined to comment on the acquisition when contacted by KrAsia Thursday.

Contact the writer at [email protected]

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