Firstp2p

About Firstp2p

Firstp2p emerged in the financial technology landscape from Beijing, China, launching in July 2013. The company was established by the UCF Group to operate as a peer-to-peer (P2P) lending platform. Its core business centered on connecting individual investors with small and medium-sized enterprises (SMEs) that found it challenging to secure financing through traditional banking channels. The platform facilitated this connection by offering an online marketplace where borrowers could be matched with lenders.

Firstp2p's product offerings included loan products collateralized by property and automotive assets, as well as car loans, mortgages, and financial leasing. For investors, the platform presented an opportunity to earn returns with advertised interest rates ranging from 9% to 12%. The business model served both B2C and B2B segments within the FinTech market. By November 2016, the company had processed a total transaction value exceeding $20.75 billion with approximately 3.14 million investors on its platform.

The company successfully attracted significant capital, raising a total of $111 million over three funding rounds. A major Series C funding round in September 2016 brought in $70 million, led by CCB International, and resulted in a post-money valuation of $2 billion. Other notable investors included China Equity Group and CITIC Capital. Despite its initial growth and substantial funding, Firstp2p is now considered a deadpooled company, having ceased operations around August 2019.