Lufax

{{Short description|Online Internet finance marketplace}}

{{Infobox company

| name = Shanghai Lujiazui International Financial Asset Exchange Co., Ltd.

| logo = Lufax logo.png

| type = Public

| traded_as = {{NYSE|LU}}

| foundation = 2011

| industry = Personal finance, Software

| location = Shanghai
China

| products = Financial services
Peer-to-peer lending

| homepage = [http://www.lu.com/ lu.com]

}}

Lufax ({{zh|c=陆金所|p=Lùjīnsuǒ}}), full name Shanghai Lujiazui International Financial Asset Exchange Co., Ltd., is an online Internet finance marketplace headquartered in Lujiazui, Shanghai.{{cite web|url=http://www.lufax.com/en/About%20company.html|title=About Us|author=Lufax}}{{cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=215513933|title=Company Overview of Shanghai Lujiazui International Financial Asset Exchange Co., Ltd.|publisher=Bloomberg.com|date=April 7, 2014}} Founded in 2011, it is an associate of China Ping An Group.{{cite web|url=http://www.lendacademy.com/the-most-important-chinese-p2p-lending-companies/|title=The Most Important Chinese P2P Lending Companies|author=Jason Jones|publisher=Lend Academy|date=May 4, 2014}}

The company was founded in September 2011,{{cite web|url=http://www.scmp.com/news/china/article/1764380/mainland-chinas-peer-peer-pioneer-lauds-big-innovation-big-place|title=Mainland China's peer-to-peer pioneer lauds big innovation for a big place|author=Kwong Man-ki|publisher=South China Morning Post China|date=April 12, 2015}} and started with P2P lending as the only service. It is the second largest peer-to-peer lender in China.{{cite web|url=http://online.barrons.com/articles/3-reasons-to-buy-china-1428457115|title=3 Reasons to Buy China|author=Paul Schulte|publisher=Barron's|date=April 7, 2015}} Now the company is said to be branching out their business gradually, becoming a much broader platform that work together with funds, insurance companies and financial license holders.{{cite web|url=http://www.scmp.com/business/companies/article/1764866/lufax-rides-internet-finance-boom|title=Lufax rides internet finance boom|author=Kwong Man-ki|publisher=South China Morning Post|date=April 12, 2015}} The platform makes money by matching borrowers with investors, collecting a 4% fee on each loan. Since the start of the business, the company has arranged more than 200,000 peer-to-peer loans that worth a total of $2.5 billion.{{cite web|url=https://www.wsj.com/articles/chinas-lufax-valued-at-nearly-10-billion-in-recent-funding-round-1429164241|title=China's Lufax Valued at Nearly $10 Billion in Recent Funding Round|author=Rick Carew and Telis Demos|publisher=The Wall Street Journal|date=April 16, 2015 }}

By 2015, Ping An Insurance (Group) Co. owns 43% of the company. On the surface Lufax is a part of Ping An Group, and maintains a good relationship with the Chinese government.{{cite web|url=https://www.bloomberg.com/news/articles/2015-04-15/most-chinese-peer-to-peer-lenders-will-fail-lufax-s-gibb-says|title=Most Chinese Peer-to-Peer Lenders Will Fail, Lufax's Gibb Says|author=Zeke Faux|publisher=Bloomberg Business|date=April 15, 2015}}