Qudian (old Qufenqi)

The company's original business model, operating as Qufenqi, centered on offering small cash and merchandise credit products through a mobile platform that utilized data-enabled technologies to assess creditworthiness. Customers could finance purchases of consumer electronics and other goods from major e-commerce sites. This model proved successful, attracting venture capital funding from investors like BlueRun Ventures and Ant Group, and culminating in a high-profile Initial Public Offering on the New York Stock Exchange (NYSE) in October 2017.

Facing evolving regulatory landscapes in China's online lending sector and increased competition, Qudian has strategically diversified its operations multiple times. In 2022, the company made a notable pivot into the consumer goods market by launching QD Food, a ready-to-cook meal business aimed at working-class families. This initiative leveraged live-streaming e-commerce on platforms like Douyin to market its products. More recently, the company's focus has shifted again towards providing last-mile delivery services for logistics companies, though it has contemplated winding down this business due to intense competition. Concurrently, Qudian engages in aircraft leasing and technology development services.