51 Credit Card (51信用卡) (2051-HK) is an online credit card issuance and management company that was first founded in Hangzhou and is listed on the Hong Kong Stock Exchange.
The company was founded in May 2012 in the Zhejiang province capital of Hangzhou by fintech entrepreneur Sun Haitao (孙海涛), with the launch of credit card bill management app 51 Credit Card Manager (51信用卡管家).
51 Credit Card Manager is marketed as an app that is capable of providing “smart management of credit card bills at the touch of a button.”
In August 2012 51 Credit launched Hangzhou Enniu as the operating entity for 51 Credit Card Manager.
51 Credit has since launched several apps in a bid to provide “one-stop personal financial services for personal credit management, credit card technology service and online credit facilitation and investment services.”
In addition to 51 Credit Card Manager these apps include 51 Renpin (51人品), 51 Renpin Loan (51人品贷) and Gei Ni Hua (给你花).
According to a report from Oliver Wyman 51 Credit is China’s first and largest online credit card management platform, as well as China’s largest independent platform for online credit card applications.
The company reported 810 millions registered users of its apps as of the end of 31 December 31, with 51 Credit Manager managing 106 million credit cards issued by both domestic and overseas banks, and payments of around 108.5 billion yuan (approx . USD$17.2 billion).
CB Insights has named 51 Credit as a “global fintech unicorn,” while both KPMG and Forbes magazine has listed it as one of China’s top 50 internet of fintech companies.
51 Credit listed on the Hong Kong Stock Exchange on 13 July 2018.
In 2017 51 Credit posted revenue of 2.27 billion yuan, for a near three-fold increase compared to 2016, while net profits stood 744 million yuan, for YoY growth of 1304% compared to profits of 53 million yuan in 2016.