Omni Prime

About Omni Prime

Omni Prime Inc., a financial technology firm headquartered in Shanghai, was established in 2014 by Dan Hu and Xuanyi Li. Hu, who previously served as a Vice President at Sequoia Capital China, conceptualized the business after being inspired by a course at Stanford on prime and subprime loans. The company directs its services towards providing internet-based financial solutions, with a particular focus on offering mobile credit facilities to the younger generation in China.

The core of Omni Prime's business is a proprietary O2O (online-to-offline) finance service platform. This platform enables users to apply for and receive credit for specific purchases, primarily consumer electronics like mobile phones and tablets. The business model is structured around facilitating these purchase-oriented loans, distinguishing the company from traditional lenders by focusing on buyers rather than individuals seeking cash loans. A typical loan facilitated by the platform is approximately US$300 for a duration of 12 to 24 months. The service utilizes a code-scanning application that allows partner banks to assess the purpose of the payment before finalizing the transaction, aiming for a faster financial service.

The company's target market consists of young consumers in China, providing them with accessible credit to purchase desired goods. Revenue is generated through the financial services provided on its platform. Since its inception, Omni Prime has attracted considerable investment from various backers. Notable investors include 5Y Capital, China Renaissance, JD Digits, and Shunwei Capital, with total funding reported to be $160 million.