We invest our own capital in special opportunities, through True North Financial LLC. One such opportunity is an investment in China Rapid Finance.
China Rapid Finance
China Rapid Finance (NYSE: XRF) is a leading Chinese fintech company that utilizes its own proprietary award-winning credit decisioning technology. China's consumer credit market currently lacks credit scores for individuals. China Finance has 18 years of experience evaluating the creditworthiness of individual Chinese consumers. The Company previously advised the Peoples Bank of China on consumer credit policies and provided services to most of China’s major Commercial Banks to qualify creditworthy consumers to whom the banks should offer credit cards. Hewlett Packard was an early, long term investor in China Finance as it developed its proprietary consumer credit decisioning technology. HP had representation on the Company’s board of directors. China Finance was a leading peer-to-peer (P2P) lending company before exiting that business in accordance with a sudden change in Chinese government policy. Current policy disallows P2P lending and requires financial firms to use institutional capital to make small consumer loans.