As many as 13 companies backed by investments from CreditEase Fintech Investment Fund (CEFIF) were named today by CB Insights to the prestigious global Fintech 250, a select group of emerging private companies working on groundbreaking financial technology. The list was revealed during The Future of Fintech conference in New York on June 27th.
The winners in relation with CreditEase investments include Addepar, NAV, Tradeshift, Upgrade, Circle, TruMid, WorldCover, TrueAccord, Bocheng (CreditEase Insurance Agency) and others. These companies were recognized from around the world for their innovative technology.
CEFIF, founded in December 2015, is a venture fund investing in growth-stage Fintech companies in China and the global markets. CEFIF holds an equivalent of USD 1 billion in total committed capital. The fund has formed strategic partnerships with global leading venture capital investors to discover opportunities in five sub-segments within the domain of Fintech: Lending, Payment, Personal Finance/Wealth Management, Enterprise Solutions and Insurance Technology. CEFIF has investment professionals in Beijing, Hong Kong, Palo Alto and just opened operation to cover London/Israel.
In a summary of trends in the US-China Fintech space, CB Insights cited CreditEase CEO Ning Tang as saying that "over the next decade, sectors like crowdfunding, robo-advisors, insurance tech, blockchain and blockchain-driven applications will emerge. Some are behind marketplace lending by 3 years, some by 5 years, and some are behind by even 10 years, but all will go through a similar process in China."
At a panel on China Fintech trends, CreditEase Fintech Fund Senior Partner Anju Patwardhan shared her views with an audience of over 1000 senior executives at the Lincoln Center in New York City.
Mrs. Patwardhan was recently ranked number one globally on the 2017 list of "44 Innovators to Watch" by Bank Innovation. This is a list of people who are at the forefront of Fintech industry and partner with incumbents and startups to design, implement, integrate, and launch the future of banking.
Mrs. Patwardhan highlighted the regulatory differences across countries for development of Fintech sector and noted that the regulatory environment in China, Singapore, the United Kingdom and India is far more flexible and supportive of allowing new financial industry startups to grow with proportionate regulations. China had issued specific internet finance guidelines in recent years that place various Fintech sectors under specific regulatory bodies. She noted that regulatory clarity is needed for marketplace lending platforms in the United States and will result in a positive impact on investor sentiment and valuation for these Fintech companies.
CB Insights report noted that Ribbit Capital has backed 17 of the Fintech 250 companies, while Andreesen Horowitz and Goldman Sachs backed 9 each in their portfolio. CreditEase has backed 13 of these companies.
CreditEase is a leading FinTech company in China, specializing in inclusive finance and wealth management, in addition to payment technology, marketplace lending, crowdfunding, robo-advisory, insurance technology and blockchain products and services. CreditEase actively engages with global FinTech innovators through business incubation, commercial co-operation, and investment. Better tech, better finance, better world.