Lufax (陆金所)


    Lufax (陆金所) (full Chinese name: (上海陆家嘴国际金融资产交易市场股份有限公司) is a Chinese fintech company that is an affiliate of China Ping An Group, and has its origins as an online P2P lender.

    The company was established in Shanghai in September 2011 with registered capital of 837 million yuan, and is headquartered in the city’s Lujiazui financial district.

    Its official website and online lending platform came online in March 2012, with the goal of “providing professional, reliable financial services to small and medium-enterprises and retail clients, and helping them to achieve convenient, high-efficiency, low cost financing and wealth gains.”

    Lufax placed 10th on KPMG’s 2018 Fintech100 list, while a 2018 report from Visual Capitalist said it was the world’s second biggest fintech company, with a value of USD$18.5 billion and $1.69 billion in funds raised.

    The company bills itself as a “leading global integrated online wealth management platform,” and according to its official website has over 30 million registered users.

    According to China Ping An’s 2016 financial report, Lufax saw 1.54 trillion yuan in retail end transactions that year, for YoY growth of 137.5%, while as of the end of the period its retail end assets under management reached 438.379 billion yuan, for a YoY increase of 74.7%

    As of 2015 Lufax was 43% owned by Ping An Insurance (Group) Co.

    Lufax’s business scope includes:

    • Research and development, integrated design and consulting services in relation to financial innovation products;
    • Services in relation to privately issued equity investment funds and other related transactions;
    • Research and development of financial software applications; e-commerce and commercial consulting;
    • Financial and economic consulting services, market surveying and data analysis services.