RENRENDAI

Renrendai is a Beijing-based company providing a P2P platform for financial services such as loans, debts, investment, and others. It targets white-collar employees and small business owners as its customers, charging borrowers a management fee of 0.3% of the borrowed money, and a service fee of up to 5% for high-risk borrowers. The returns on Renrendai.com loans are between 10% and 18%, which is higher than the 3.25% offered by one year turn deposits in banks. The company also controls default risks by measuring borrowers' income, occupation, assets, and family connections. Renrendai was founded in May 2010 and currently has a service network covering over 2,000 regions. Its transaction capital for the third quarter of 2013 was reported to be US$81.2 million.