Lexinfintech Holdings Ltd. (NASDAQ:LX)

LexinFintech Holdings Ltd. is a leading online consumer finance platform in China in terms of the outstanding principal balance of loans originated on its platform as of June 30, 2017, according to Oliver Wyman. LexinFintech strategically focuses on serving the credit needs of educated young adults in China. It offers loan products to meet their credit needs at different stages of life. The Company had approximately 3.0 million active customers in 2016 and 3.3 million active customers in the nine months ended September 30, 2017, representing a 103% increase from 2015 and a 34% increase from the nine months ended September 30, 2016. As of September 30, 2017, LexinFintech had over 6.5 million customers with an approved credit line and over 20 million registered users.

The Company's target market consists of educated young adults aged between 18 and 36 in China, features young people with high income potential, high educational background, high consumption needs, a strong desire to build their credit profile, and an appreciation for efficient customer experience. As of September 30, 2017, this target customer group represented over 90% of the Company's customer base. 

LexinFintech's online consumer finance platform, Fenqile, addresses customers' credit needs by offering personal installment loans, installment purchase loans and other loan products. It offers a wide variety of competitively-priced products on its e-commerce channel and allows customers to use their credit lines to finance purchases. It matches customer loans with diversified funding sources, including individual investors on its Juzi Licai online investment platform, institutional funding partners in its direct lending programs and investors of its asset-backed securities.

Last updated November 13, 2017