China Rapid Finance (CRF), a consumer lending marketplace in China, has joined forces with Licaitong, the wealth management platform of Chinese internet giant Tencent, to offer new investment products for individual investors.
Licaitong, launched in 2014, is accessible via WeChat wallet and QQ wallet.
The offerings launched as part of the alliance include fixed-term financial products having maturities of nine, 12, 15 and 18 months and expected annualised returns of 4.65%, 5.03%, 5.63% and 6.19%, respectively.
CRF CEO Zane Wang said: “Our first cooperation with Tencent’s Licaitong platform is a great start, and we hope to further expand our cooperation with Tencent in the future.
“With this partnership, Tencent users will have multiple investment choices. The cooperation also helps to better serve our Emerging Middle-class, Mobile Active consumers, or EMMAs.”
"This collaboration between CRF and Tencent's Licaitong platform will support the development of inclusive finance in China," Wang added.