Jimiqizu

About Jimiqizu

Jimiqizu, also known as Jimu Box, was an online peer-to-peer (P2P) lending platform that provided financial solutions for individuals and micro-enterprises. The company was founded in 2013 by Jun Dong, who brought experience from Wall Street and financial services for Chinese SMEs. Dong, a CFA charterholder with an EMBA from CEIBS, aimed to address the low asset liquidity in China and the significant demand for loans from small businesses that traditional banks often couldn't serve.

The platform, which went live in August 2013, operated by connecting borrowers with lenders online, aiming to lower costs and increase the efficiency of financial services. It catered to individual consumers and small business owners, offering various loan products while providing investment opportunities for lenders. The business model focused on acting as an information intermediary, facilitating loan agreements between parties. The parent company, Beijing LeRong DuoYuan Information Technology Co., Ltd., received significant attention and investment. Notably, it secured a Series B funding round of $37.19 million in 2014, led by Xiaomi and Shunwei Capital.

Over the years, Jimu Box grew significantly, with its parent company reorganizing into the Pintec Group and later the Jimu Puzzle Group. The P2P platform, Jimu Box, was eventually separated to operate under the Jimu Group to comply with regulatory requirements and avoid mixed-business operations risks. However, the company faced major challenges starting in 2020. Amid a broader crisis in China's P2P lending industry, Jimu Box announced it would exit the P2P business and apply to transform into a small loan company. This led to difficulties, and in May 2020, the company was placed under investigation for suspected illegal absorption of public funds. The founder, Jun Dong, was also reportedly detained in connection with a business dispute.