Finvolution Group (中国)

The Company is an investment holding company and with its consolidated subsidiaries and variable interest entities (“VIEs”) operates an online consumer finance marketplace through its platform (www.ppdai.com) registered in the People's Republic of China.
HISTORY:
The Company commenced its online consumer finance marketplace business in June 2007 through Shanghai Daifeng Investment Consulting Co., Ltd., or Shanghai Daifeng. In January 2011, It relocated to Zhangjiang Hi-Tech Park in Pudong, Shanghai and starting then, its business operations gradually migrated from Shanghai Daifeng to another operating entity located in Zhangjiang Hi-Tech Park, Shanghai Xiazhong Information Technology Co., Ltd., which later changed its name to Shanghai PPDai Financial Information Service Co., Ltd., or Shanghai PPDai.
During the period between June and August 2012, It formed its current offshore corporate structure to facilitate offshore financing. In June 2012, It incorporated PPDAI Group Inc. under the laws of the Cayman Islands as our holding company and incorporated PPDAI (HK) LIMITED, or PPDAI Hong Kong, as its wholly-owned subsidiary. In August 2012, Beijing Prosper Investment Consulting Co., Ltd., or Beijing Prosper, was incorporated as a wholly-owned PRC subsidiary of PPDAI Hong Kong, through which it obtained control over Shanghai PPDai and Beijing Paipairongxin Investment Consulting Co., Ltd., or Beijing Paipairongxin, a company incorporated in June 2012, based on two separate sets of contractual arrangements, including the equity pledge agreements, the business operation agreements, the power of attorneys, the option agreements, and the exclusive technology consulting and service agreements. In July 2014, following a restructuring, Shanghai PPDai became a wholly-owned subsidiary of Beijing Paipairongxin. It then subsequently terminated its contractual arrangements with Shanghai PPDai and its shareholders, and entered into an amended and restated exclusive technology consulting and service agreement with Shanghai PPDai and Beijing Paipairongxin.
In August 2015, It established Wuxi PPDai Financial Information Service Co., Ltd. to provide customer services. In January 2016, It established Shanghai Paifenle Internet Technology Co., Ltd. to operate business related to its consumption loan products. In December 2016, It established Hefei PPDai Information Technology Co., Ltd. as another entity to provide customer services with a focus on loan collection.
In June 2017, Shanghai Guangjian Information Technology Co., Ltd., or Shanghai Guangjian, was incorporated as a wholly-owned PRC subsidiary of PPDAI Hong Kong. Shortly after its incorporation, Shanghai Guangjian established a wholly-owned subsidiary, Shanghai Shanghu Information Technology Co., Ltd., or Shanghai Shanghu. In June 2017, Shanghai Guangjian, Shanghai Shanghu, Beijing Prosper, Beijing Paipairongxin, Shanghai PPDai and the shareholders of Beijing Paipairongxin entered into a new set of contractual arrangements, including an equity pledge agreement, a business operation agreement, a power of attorney, an option agreement and an exclusive technology consulting and service agreement, replacing the previous contractual arrangements among Beijing Prosper, Beijing Paipairongxin, Shanghai PPDai and the shareholders of Beijing Paipairongxin. Based on the new set of contractual arrangements, we continue to have control over Beijing Paipairongxin and Shanghai PPDai through Shanghai Guangjian.
On November 10, 2017, the Company ADSs commenced trading on the NYSE under the symbol “PPDF.”
In January 2018, the Company incorporated Bluebottle Limited in Hong Kong.
In November 2019, the name of the Company was changed from “PPDAI Group Inc.” to “FinVolution Group” and that “信也科技” was adopted as the dual foreign name of the Company. In addition, the Company's ticker symbol on the New York Stock Exchange was also changed from “PPDF” to “FINV.”
Its principal executive offices are located at Building G1, No. 999 Dangui Road, Pudong New District, Shanghai 201203, People's Republic of China. Its telephone number at this address is +86 21 3118-6888. Its registered office in the Cayman Islands is located at the offices of Maricorp Services Ltd., P.O. Box 2075, George Town, Grand Cayman KY1-1105, Cayman Islands. Its agent for service of process in the United States is Law Debenture Corporate Services Inc., located at 801 2nd Avenue, Suite 403, New York, NY 10017.
BUSINESS
The Company is a online consumer finance platform in China with strong brand recognition. Launched in 2007, it is a pioneer in China's online consumer finance industry connecting borrowers, whose needs are unserved or underserved by traditional financial institutions, with investors and financial institutions.
The Company strategically focus on serving borrowers between ages of 20 and 40, the young generation that is typically more receptive to internet financial services and is poised to become the major driving force of China's consumer finance market. Its borrowers are primarily acquired online and stretch across a large number of cities and counties in China. It primarily offer short-term loans to its borrowers to meet their immediate credit needs while allowing them to gradually establish their credit history through activities on its platform.
Currently, its business primarily focuses on the PRC market. The Company is also expanding its business in the overseas markets, including the Philippines and Indonesia.