NEW YORK, Dec. 21, 2017 (GLOBE NEWSWIRE) -- LexinFintech Holdings Ltd. (Nasdaq:LX), a leading online consumer finance platform in China, rang the opening bell at the Nasdaq MarketSite in Times Square today in celebration of its initial public offering (IPO) on The Nasdaq Stock Market.
LexinFintech offers convenient and innovative loan products targeting educated young adults, ages 18-36, in China with high income potential, high educational background, high consumption needs, a strong desire to build their credit profile, and an appreciation for efficient customer experience. Lexin’s online consumer finance platform, Fenqile, helps address their customers' credit needs by offering personal installment loans, installment purchase loans and other loan products. Lexin also offers a wide variety of products on their e-commerce channel, which allows customers to use their credit lines to finance purchases. Lexin is able to match customer loans with diversified funding sources, including more than 30 funding partners, which include commercial banks, consumer finance companies, and other licensed financial institutions, as well as individual investors.
“The IPO on Nasdaq is an important milestone for Lexin, and today is an exciting day for all our employees, our customers and our investors,” said Jay Wenjie Xiao, Founder and CEO of LexinFintech. “As a public company, we are well positioned to capture the long-term growth potential of educated young adults in China, and to serve their growing credit and consumption needs. Looking ahead, we will continue to invest in our financial technologies to provide better service to our users, and to deliver value to our shareholders.”
“Entrepreneurs have played a major role in China’s unprecedented growth. As home to the world’s most innovative companies, Nasdaq is proud to be the exchange partner for Chinese visionaries as they make their marks on the world stage,” said Nelson Griggs, President of the Nasdaq Stock Exchange. “With their unique approach to financial services, LexinFintech shares the same global ambition as many Nasdaq listed companies, and we look forward to their continued success.”
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