Company Information

Get to know Weidai

Founded in 2011 and headquartered in Hangzhou, Weidai Ltd. operated one of China's largest peer-to-peer lending platforms, connecting individual investors with small and micro-enterprise owners who used their automobiles as collateral for loans. The company grew rapidly, becoming a prominent player in the fintech space and successfully launching an IPO on the New York Stock Exchange (NYSE: WEI) in 2018. However, following a nationwide crackdown by Chinese authorities on the P2P lending industry, Weidai's operations came under scrutiny. In May 2020, the company announced it was ceasing its online lending business and would be investigated for illegal fundraising, leading to its eventual delisting from the NYSE.

Industry

Financial FundraisingPRIMARY
Financial Other Service
Financial Payment

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Weidai

China

Founded in

08 Jul 2011 (15 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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Regulated

Recommended

IUX

(2,283 reviews)

Mauritius

2015

(10 years)

Security Information :

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ASIC

Security Information

Warning

This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.