Economic review

Online loan platform LexinFintech files for U.S. IPO

2017-11-14 13:04:00 (Beijing Time)         chinadaily.com.cn

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Chinese online consumer finance platform LexinFintech Holdings Ltd filed with the U.S. Securities and Exchange Commission for an initial public offering on the Nasdaq global market on Tuesday.

Lexin, an online provider for installment-based loans to young Chinese consumers usually aged between 18 and 36, had 6.5 million customers as of September 30, 2017.

Founded in 2013, the Shenzhen-based company generated $810 million in revenue for the 12 months ended September 30, 2017.