Lufax

Business focus

Finance, Insurance & Fintech

Description

Lufax (陆金所) was set up by Ping An in 2011 as a P2P lending platform, then fully exited P2P lending in 2019 amid China's regulatory crackdown to focus on wealth management and consumer lending. The company listed on the NYSE in 2020, reaching a valuation of about $39.4 billion at its peak, with a retail credit-facilitated loan balance of $73.5 billion and roughly $54 billion in client wealth management assets.