Jiedaibao

Founded in 2015, Jiedaibao is a mobile finance technology platform that pioneered a unique "acquaintance-based lending" model in China. The service allows users to borrow from and lend to people within their own social circles, leveraging social connections to assess credit risk. The platform grew rapidly, amassing a large user base, but also became central to significant public controversies, including scandals involving usurious interest rates and the use of nude photos as loan collateral. Following a nationwide regulatory crackdown on the P2P lending industry by Chinese authorities, Jiedaibao was forced to undergo significant business restructuring to comply with new regulations and de-risk its operations.