Weidai.com, headquartered in Hangzhou, Zhejiang, was established in 2011. The operating company is Weidai (Hangzhou) Financial Information Services Co., Ltd., with a registered capital of 128 million, and its main business is automobile mortgage pledge. As of November 2017, the transaction volume was approximately 140 billion, and there were 490 offline loan stores across the country, which were deposited online by Xiamen Bank. In one sentence, it is the leader in the car loan industry.
The picture above shows the investor data for the third quarter. I have to sigh that there are so many rich people using micro-loans.
Founding Team
The founder, Yao Hong, currently serves as CEO. Objectively speaking, his educational resume and background do not have many bright spots. He is definitely born in the grassroots system and can do micro-lending. This scale surprised many financial practitioners. Before the micro-loan, the boss Yao Hong had been starting a small business, selling cards and working as a scalper. He had tried in debit, banking services, software services, etc., but he was not successful and had no brilliant achievements. In the early days of Weidai's personal credit business, it suffered heavy losses due to overdue issues, and it was only through its rapid transformation into car loans that it was able to reverse the decline. Therefore, in the history of the growth of micro-lending, the growth was very slow in the first few years. Looking back at the development history of the platform, Micro Loan, which was launched in 2011, had only done 80 million transactions in one year by August 2012. On its second anniversary in 2013, the cumulative transaction volume was only RMB 500 million. In the middle of 2013, with the intensive opening of offline asset stores on the platform, platform transactions began to roll out rapidly. It means that I have been dealing with the pitfalls of the asset business before. If the pitfalls go smoothly, I will run quickly. Now boss Yao Hong's net worth is different. In 2016, he entered the Hurun Post-80s Rich List, with a net worth of 5 billion, ranking 12th. From grassroots to online loan giants, Yao Hong is not the only example. Explanation: No matter how many people criticize online loans and run away ranting about the risks of this or that, it is undeniable that online loans have given many ordinary people opportunities. At present, Weidai.com has not disclosed information about the founding team, and we will continue to pay attention.
Platform background
There are 3 rounds of financing, as follows:
Series A: Handing Yuyou Group/Shanda, invested 100 million yuan in June 2014 ;
A+ round: Zheshang Venture Capital, invested in the A+ round on November 6, 2014, the specific amount was not disclosed;
B round: Handing Shares, invested 150 million in 2015 Yuan.
C round: Jiayu Fund/CITIC Capital, investing 1 billion yuan in 2016.
Boss Yao Hong holds 60.11% of the shares. In fact, this legal shareholder Lidqing Jinxiu also has Yao Hong. It is visually estimated that Yao Hong’s actual shareholding ratio will be close to 70%;
The second largest The shareholder is Han Ding Yuyou, accounting for 19.04% of the shares. The remaining 10% of the shares are visually owned by shareholders in other rounds of financing. (There is no sign of Shanda among the shareholders. It is estimated that they have cashed out and left. Handing has transferred 3.5% of its equity, but the industrial and commercial information has been delayed and has not been changed. The completion of this transfer has allowed Handing to earn more than 100 million yuan in three years. 100 million).
Although the shareholding ratio of the incoming shareholders is not large, it has really given a huge boost to the credit enhancement of the micro-loan brand. From June 2014, the first round of financing from Handing and Shanda was introduced, to November 2015. Transactions on the platform are directly obtained from the accumulated profits