Chinese peer-to-peer lending giant Dianrong has officially joined forces with Hanwha Group, with plans to launch a range of fintech services across South Korea and South East Asia.
The equal join venture was agreed to in Seoul on Thursday. The deal ushers into life a new company – as yet unnamed – that will launch a marketplace lending service in South Korea and Asia. The platform will be headquartered in Singapore, with offices due to open within the month. We learn from The Korea Herald that the joint ventue will look to establish an affiliate in Korea in March in order to begin operating a peer-to-peer lending service as early as August or September.
News first broke of the partnership back in late November, when a Memorandum of Understanding was signed by both businesses. The deal has been under discussion since April 2015.
The Hanwha Group is Korea’s 9th largest conglomerate. The company generated over $42.6 billion in sales in 2014, and boasts 56 subsidiaries and 190 affiliates worldwide. Dianrong is one of China’s leading peer-to-peer lending platforms, and is backed by Standard Chartered and the China Fintech Fund. The platform secured $207m in a fundraising round back in August 2015, and is reportedly looking to raise as much as $500m in an upcoming investment round. Founder Soul Htite is also a Co-Founder of Lending Club – the US’ largest marketplace lending platform.
The joint venture will launch into a part of the world where peer-to-peer lending activity has been relatively sparse. We recently covered the launch of peer-to-peer platform Modalku in Indonesia, as well as the arrival of DBS’ pilot small business lending programme – which is powered by AMP Credit Technologies. But the arrival of the Hanwha-Dianrong joint venture is a potential game-changer, and we wouldn’t be surprised to see the South East Asian space heating up over the course of the year.
Read more at Alt Fi News
Bizzabo, the all-in-one event success platform, unveiled The “Event Professionals of Tomorrow” Survey revealing that 85% of event planners see email marketing as the key marketing tool, attendee satisfaction is the most significant indicator for event success and more than half of event planners spending less than 10% of their budgets on event technology. The study sought to gather information regarding event planning best practices through direct insights from event professionals. The company has joined forces with award winning industry leaders such as: Bizbash, Catchbox, Glisser, CrowdMics, Eventopedia and TechsyTalk to reach higher coverage and greater results to directly empower the event planners community. Please click here to download the full study and visit www.Bizzabo.com for more information.
SpeakingPal has teamed up with ECTV! See the co-branded product via the link.
Loh Long Hsiang, the former Deputy Head of Origination and Client Coverage at Standard Chartered Bank (China), Feng Ruibin, the former Deputy Chief Risk Officer at Ping An Puhui Finance, and Zhou Lili, the former General Counsel at HSBC (China) all joined the well-known Chinese internet finance company Dianrong.com in the first week of 2016, as the Chief Operating Officer (COO), Chief Credit Officer (CCO) and Board Secretary & General Counsel, respectively.
Such a personnel change has invited open speculations since China’s Legislative Affairs Office of the State Council just released its Provisional Measures for the Administration of the Business Activities of Online Lending Information Intermediaries (Exposure Draft) (also known as the P2P Regulatory Rules that the industry has been paying close attention to) last week and is now seeking comments from the public.
Read more at PRNewswire
Graduway today announced a strategic partnership with Zeidman Development, a leading Blackbaud product services company. Zeidman Development will provide a range of plugins to Graduway’s clients to ensure seamless flow of data between the Graduway platform and Blackbaud products such as Raiser’s Edge and BBCRM.
David Zeidman, Managing Director of Zeidman Development commented, ‘’We are delighted to be working with Graduway more strategically. We have already built and deployed a great plugin, Importacular, that makes it easy for Graduway universities and schools to feed contact and activity data directly from their Graduway platform into their The Raiser’s Edge. We look forward to expanding the product suite in 2016. ’’
Daniel Cohen, CEO of Graduway commented, ‘’Graduway and Zeidman are both technology partners of Blackbaud so it was natural for us to work together. We look forward to delivering excellent technology solutions for our mutual clients using Blackbaud products.’’