Hangzhou-based fintech enterprise Aicai Group (爱财集团) has plans to launch its initial public offering in Hong Kong next year according to domestic media reports.
Aicai Group CEO Qian Zhilong (钱志龙) said that the company’s latest valuation was in excess of USD$1 billion, putting it amongst the ranks of unicorn tech firms.
According to a report from iResearch Aicai specialises in the provision of consumer finance services to younger clients, creating a services portfolio of “financial ecosystem + fintech + asset management” for this client demographic.
Aicai Group currently provides around a dozen different product lines, concentrated in the four areas of wealth management, consumer instalment financing, small and micro-financing and automobile financing.
Last week the company announced that it had secured the C2/C6-03 plot of land in the north-west of the Zhejiang University’s Zijin’gang Campus in Hangzhou to serve as its domestic headquarters.