Jubao Internet Technology

About Jubao Internet Technology

Jubao Internet Technology was established in Beijing, China, in 2014, founded by Li Xianhua and Wang Jian. The company positioned itself as an online marketplace for a variety of financial products, targeting both consumers and businesses. Its platform offered services that included consumer and business loans, crowdfunding, asset transactions, and third-party payment services.

A significant milestone in the company's history was a substantial Series A funding round on November 18, 2016. In this round, Jubao Internet Technology successfully raised $200 million from a single institutional investor, RRJ Capital. This capital injection was intended to fuel the company's growth and expansion within the competitive financial technology sector in China. Its primary competitors included established players like Lufax, CreditEase, and JD Finance.

Despite the promising start and significant financial backing, the company's trajectory was ultimately unsuccessful. Jubao Internet Technology is now classified as a deadpooled company, indicating that it has ceased its operations. The platform provided a range of financial tools, even allowing users to check their credit scores, aiming to be a comprehensive financial services hub before its eventual closure.