Haodai

About Haodai

Beijing Xinxin Xiangyou Information Technology Co., Ltd., operating as Haodai.com, was a financial technology firm established in March 2013 by founder Li Mingshun. Positioned as a loan search and distribution platform, the company aimed to connect individual and business borrowers with suitable lending institutions. Li Mingshun brought 15 years of internet industry experience to the venture, having previously co-founded the community platform Discuz!, which was acquired by Tencent in 2010 for nearly $50 million, and also founded companies like Jutao.com and Caimao Browser.

Haodai's core business was to function as an intelligent search engine for loans, helping borrowers find appropriate lending channels while enabling banks and financial institutions to source accurately matched credit customers. The company did not provide loans directly but acted as a crucial intermediary platform. Its product ecosystem expanded to include Haodai.com and the Haodai App for vertical loan searches, Haodai Cloud Finance as a distributed search platform, and specialized apps for micro-credit, credit card management, and a mobile office platform for loan officers called "Credit Circle". The business model focused on bridging the information gap in the lending market, catering to a spectrum of needs from small personal credit loans to more substantial financing for micro and small enterprises. For a period, the company also offered risk management services to lending institutions by integrating big data resources and FICO scoring technology to create a risk control and monitoring system.

The company demonstrated significant traction in attracting investment, securing angel funding in March 2013 from Helinext Investment. This was followed by a Series A round in July 2013 from DCM China and Co-win Ventures, a $50 million Series B in September 2014 led by Vertex Ventures and DCM China, and a Series C in June 2015 from WI Harper Group. Despite its initial growth and successful funding rounds, the company eventually ceased operations, with its status listed as out of business by July 2020.